Moksh Ornaments Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on July 17, 2025
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Moksh Ornaments Limited has issued a corrigendum to the EGM notice dated June 25, 2025, incorporating stock exchange recommendations. The EGM on July 17, 2025 will seek shareholder approval for two preferential issues to promoter group entities: (1) up to 45 lakh equity shares at Rs. 15 per share (face value Rs. 2, premium Rs. 13) to Managing Director Amrit Jawanmalji Shah, and (2) up to 45 lakh fully convertible warrants at Rs. 15 per warrant to Sangeeta Amritlal Shah (Promoter Group), each warrant convertible into 1 equity share within 18 months with 25% upfront payment. Total fundraising potential is up to Rs. 13.5 crore. Proceeds are earmarked for business expansion including new manufacturing units and machinery (Rs. 2.5 crore), working capital (Rs. 4 crore), and general corporate purposes (Rs. 25 lakh). E-voting runs from July 13 to July 16, 2025.
This is a promoter-led capital infusion with no change in control, but existing non-promoter shareholders will see dilution of roughly 10-11% on a fully converted basis. Post-issue, promoter holding rises from 36.87% to about 42%. The stock could face short-term pressure due to dilution, though the capital supports business expansion plans. Shareholders should evaluate the use of funds and vote at the upcoming EGM.