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Awaiting price reaction for this filing.
The Board of Directors met on July 25, 2025 and approved multiple key items, including the Directors' Report for FY ended March 31, 2025, and a proposal to issue equity shares to existing shareholders on a rights basis in the ratio of 1:1, subject to regulatory approvals. The Board also approved the allotment of 79,66,667 equity shares (face value Rs. 10 at Rs. 15 each, including Rs. 5 premium) upon conversion of warrants held by non-promoter group allottees, raising Rs. 9.75 crore via balance payment. Post-allotment, the company's paid-up capital increased to Rs. 18.59 crore (1,85,91,943 shares), with 70,55,557 warrants still pending conversion. Additionally, authorised share capital was raised from Rs. 50 crore to Rs. 60 crore, and the 42nd AGM was scheduled for August 26, 2025.
Shareholders will see dilution as 79,66,667 new shares are allotted from warrant conversion, and a further 1:1 rights issue is in the pipeline that could double the equity base. Existing investors may need to contribute additional funds for the rights issue or face dilution of their holdings.