Outcome of Board Meeting dated 5th September, 2025
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NHC Foods' board approved the allotment of 6.5 crore (65 million) fully convertible warrants at Rs. 1.25 each on a preferential basis, including a premium of Rs. 0.25 per warrant, aggregating to Rs. 8.125 crore. The allottee is required to pay 25% upfront (Rs. 2.03 crore) with the remaining 75% due at the time of conversion into equity shares within 18 months. All warrants were allotted to a single non-promoter public investor, Satyam Shirishchandra Joshi. The board also approved the notice for the 33rd Annual General Meeting scheduled for September 30, 2025, via video conferencing, and fixed the book closure period from September 23 to September 30, 2025.
The preferential warrant issue will lead to equity dilution when converted within 18 months, but provides Rs. 2.03 crore of immediate funds. Shareholders should note the book closure period and watch for the AGM on September 30, 2025, where related resolutions may be tabled.