Announced Mon, 29 Jun · 11:54 IST
Postal Ballot to redirect Rs 770 lakh Rights Issue funds to repay SBI loan
NARMADA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-6.3%1-day move
₹42.70
prior close
₹42.30
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+0.2-0.4-6.3-15.1-17.7-14.9-15.7-19.0-10.1———
Up moveDown movePending
AI summary
Narmada Agrobase is seeking shareholder approval via postal ballot to reallocate Rs 770 lakh from its Sept 2024 Rights Issue. Originally earmarked for oil mill plant construction and machinery purchase, the unused amount will now go toward repaying an outstanding SBI term loan (total outstanding Rs 908.33 lakh). The company has fully utilised the remaining Rights Issue proceeds of Rs 2,688 lakh for working capital and general purposes. E-voting closes July 29, 2026.
Likely market impact
Neutral to mildly positive. Reduces SBI debt and interest costs but defers planned oil mill expansion. Strengthens balance sheet over short-term growth.