Moksh Ornaments Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on July 17, 2025
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Moksh Ornaments Limited has called an Extraordinary General Meeting on July 17, 2025 to seek shareholder approval for two preferential allotments to the promoter family. Item 1: Issue of 45,00,000 equity shares to promoter Amrit Jawanmalji Shah at Rs. 15 per share (face value Rs. 2, premium Rs. 13), aggregating Rs. 6.75 crore. Item 2: Issue of 45,00,000 fully convertible warrants to promoter group member Sangeeta Amritlal Shah at Rs. 15 per warrant, aggregating Rs. 6.75 crore, convertible into equity shares within 18 months. The relevant date for pricing under SEBI ICDR Regulations is June 17, 2025. Combined, the promoter family could infuse up to Rs. 13.5 crore into the company if all warrants are exercised, thereby raising their combined holding in the company.
This is a promoter-led capital raise that will increase the promoter family's stake in the company, leading to dilution for existing public/minority shareholders. The issue price is fixed as per SEBI pricing rules. Short-term sentiment may be negative due to dilution and the fact that no fresh capital is coming from outside investors, though the promoter commitment signals internal confidence.