The Board of Directors at its meeting held on June 18, 2025 has approved the allotment of Equity Shares and Convertible Warrants issued under preferential issue and the same is enclosed.
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POCL Enterprises has allotted 28,86,123 equity shares at Rs. 202 per share (Rs. 2 face value + Rs. 200 premium), aggregating Rs. 58.30 crore, to 60 identified allottees under a preferential issue. It also allotted 5,62,782 convertible warrants at Rs. 202 each (Rs. 11.37 crore, with 25% received upfront) to 17 allottees, convertible into equity within 18 months. Allottees include promoter group entities and non-promoters such as Antara India Evergreen Fund. The board separately approved acquiring a 40% equity stake plus 85% of non-convertible preference shares in PlanetFirst Green Private Limited (a Surat-based lead recycling company with Rs. 79.43 crore FY25 turnover and 21,000 MT smelting/refining capacity) for Rs. 19 crore in cash, making it an associate company by June 30, 2025. Mrs. Nupur Bansal (promoter group, related to directors Harsh and Sunil Bansal) was appointed President – Business Development and Senior Management Personnel effective June 19, 2025.
The ~Rs. 69.7 crore preferential raise will fund the PlanetFirst acquisition and growth plans, but fresh equity and potential warrant conversion will cause shareholder dilution, likely weighing on short-term EPS. The lead-recycling acquisition diversifies revenue and brings in operational synergies, while the senior management hire signals a push into business development and new segments.