Parag Milk Foods Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on May 03, 2025
PARAGMILK · price
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Parag Milk Foods held an Extraordinary General Meeting on May 3, 2025, via video conference, chaired by Chairman Devendra Shah, which ran from 10:30 AM to 11:46 AM. The sole business item considered was the approval for issuance of convertible share warrants on a preferential basis. Executive Director Akshali Shah briefed members on the company's outlook, the rationale behind the proposed preferential issue, and details of the proposed investors. The Company Secretary noted that in-principle approval from stock exchanges is still under process, and the subscription window for warrant issuance will open once that approval is received. Remote e-voting was conducted from April 30 to May 2, 2025, and the combined voting results are pending and will be shared with exchanges and uploaded on the company's website.
If approved, the preferential issue of convertible warrants will result in equity dilution for existing shareholders once the warrants are converted, but it will also bring in fresh capital. Investors should track the upcoming voting results and the terms (price, conversion ratio, and identity of allottees) of the warrant issue before the subscription window opens.