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 (EGM) on May 3, 2025, via video conference, chaired by Mr. Devendra Shah. The meeting ran from 10:35 AM to 11:46 AM and was convened to consider one main item: approval for the issuance of convertible share warrants on a preferential basis. The notice and corrigendum for the EGM were sent to members on April 11 and April 25, 2025, respectively. E-voting was conducted from April 30 to May 2, 2025, and Mr. Bhaskar Upadhyay of M/s. N. L. Bhatia & Associates was appointed as the scrutinizer. The Company is awaiting in-principle approval from stock exchanges, after which the subscription window for the share warrants will be opened. The combined voting results and scrutinizer's report are to be released to the exchanges and uploaded on the company's website later.
The preferential issuance of convertible warrants, once approved, could lead to dilution of existing shareholders when the warrants are converted into shares. Investors should watch for the voting results and the announcement of in-principle approval from stock exchanges, which will trigger the subscription window. Details of the proposed investors and pricing will be key to assessing the deal's impact on share value.