Outcome of Board Meeting held on 10th July 2025 Approval of Corrigendum to EGM Notice.
MOKSH · price
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Moksh Ornaments' Board met on July 10, 2025 and approved a corrigendum to the EGM notice (EGM scheduled for July 17, 2025 at 11:00 AM via video conferencing). The corrigendum provides additional disclosures for two preferential issues: (1) Up to 45 lakh equity shares at Rs. 15 each (face value Rs. 2, premium Rs. 13) aggregating Rs. 6.75 crore, to be allotted to Promoter Amrit Jawanmalji Shah; and (2) Up to 45 lakh fully convertible warrants at Rs. 15 each aggregating Rs. 6.75 crore, to be allotted to Promoter Group member Sangeeta Amritlal Shah, convertible within 18 months. Combined potential raise is up to Rs. 13.5 crore. Use of funds: Rs. 2.5 crore for new manufacturing units and machinery, Rs. 4 crore for working capital, and Rs. 25 lakh for general corporate purposes. Issue price was determined via registered valuer Bhavesh M Rathod with relevant date of June 17, 2025. Company confirms no change in control, and neither the company nor its promoters are wilful defaulters or fugitive economic offenders.
Existing non-promoter shareholders will see their stake diluted (promoter group holding pattern is being increased through this preferential route, while non-promoter share reduces in proportion). The promoter-led infusion signals management confidence and funds business expansion and working capital needs. EGM approval on July 17 is the next key trigger, and any negative voting outcome would impact the fundraising plan.