The Board of Directors at their meeting held on April 22, 2025 has approved the modification in the list of proposed allottees of Equity Shares proposed to be issued on preferential basis ....
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Awaiting price reaction for this filing.
POCL Enterprises' Board on April 22, 2025 removed Mrs. Namrata Baldwa from the list of proposed allottees for the upcoming preferential issue after she was disqualified under SEBI ICDR Regulation 159. Her 49,505 equity shares will be redistributed to existing allottees Sunanda Jhaver (now 37,129 shares) and Girdharlal Jhaver (now 74,257 shares). The overall preferential issue remains unchanged: up to 30,86,647 equity shares at Rs. 202 per share (Rs. 2 face value + Rs. 200 premium) for up to Rs. 62.35 crore, plus up to 6,12,288 convertible warrants at Rs. 202 each for up to Rs. 12.37 crore, totaling ~Rs. 74.72 crore across 63 equity and 18 warrant investors. Shareholder approval will be sought at the EGM on April 28, 2025.
Total issue size and pricing are unchanged — just a reshuffle of who gets shares. Existing shareholders should note significant potential dilution once warrants are exercised (each warrant converts into 1 share within 18 months).