The Extra-Ordinary General Meeting of the Company is scheduled to be held on 28.04.2025 at 11:30 A.M. through Video Conferencing/ Other Audio Visual Means for the businesses to be transacted ....
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Awaiting price reaction for this filing.
POCL Enterprises' Board, on April 3, 2025, approved a preferential issue of up to 30,86,647 equity shares at Rs. 202 each (face value Rs. 2, premium Rs. 200) and up to 6,12,288 convertible warrants at Rs. 202 each, together raising up to about Rs. 74.72 crore. Allottees include promoter group members and 60+ non-promoter investors (individuals, HUFs, companies and an AIF). Each warrant is convertible into one equity share within 18 months, failing which the warrant lapses and the upfront amount is forfeited. The Board also approved adoption of a restated Articles of Association aligned with Table F of Schedule I of the Companies Act, 2013, to enable issuance of such securities. An Extra-Ordinary General Meeting has been scheduled for April 28, 2025 via video conferencing, with e-voting from April 25–27, 2025 (cut-off April 21, 2025), to seek shareholder approval for these items.
If approved by shareholders, the company will raise up to ~Rs. 74.72 crore from promoter and non-promoter investors, leading to dilution of existing shareholders (warrants may add further dilution if converted within 18 months). The preferential issue at Rs. 202 per share acts as a reference price point for the stock.