The Board at its meeting held on June 18, 2025 has approved the acquisition of shares of PlanetFirst Green Private Limited and entering into Shareholders'' agreement and Share Purchase ....
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POCL Enterprises' board, at its June 18, 2025 meeting, approved a preferential allotment of 28.86 lakh equity shares at Rs. 202 per share (total ~Rs. 58.30 crore) and 5.63 lakh convertible warrants at Rs. 202 per warrant (total ~Rs. 11.37 crore), together raising roughly Rs. 69.67 crore from 60 equity and 17 warrant allottees, including promoter group members and non-promoter investors. Separately, the board cleared a strategic investment of Rs. 19 crore in PlanetFirst Green Private Limited, a Surat-based lead recycling company with smelting and refining capacity of 21,000 MT per annum and provisional FY25 turnover of Rs. 79.43 crore. POEL will acquire 40% of equity shares (Rs. 2 crore) and 85% of non-cumulative non-convertible redeemable preference shares (Rs. 17 crore), making PlanetFirst an Associate Company by June 30, 2025. The board also appointed Mrs. Nupur Bansal, part of the promoter group, as President - Business Development and Senior Management Personnel effective June 19, 2025.
The Rs. 69.67 crore preferential raise strengthens the balance sheet to fund the Rs. 19 crore PlanetFirst acquisition, which expands POEL's lead recycling footprint and adds associate-company revenue. Shareholders should note dilution from the new equity and warrants, while the related-party senior appointment may draw governance attention.