The Shareholders of the Company, at the EGM held on April 28, 2025 vide special resolution passed, have approved the adoption of the restated Articles of Association and the same is enclosed herewith.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
POCL Enterprises held an Extraordinary General Meeting on April 28, 2025, where shareholders approved three key items via special resolution. First, they adopted the restated Articles of Association to align with the Companies Act, 2013 and enable issuance of convertible securities. Second, they approved the preferential allotment of 30,86,647 equity shares (face value Rs. 2) at Rs. 202 per share to 63 identified promoter and non-promoter investors, raising up to about Rs. 62.35 crore. Third, they approved the issuance of 6,12,288 convertible warrants at Rs. 202 each to 18 identified persons/entities, potentially raising an additional Rs. 12.37 crore. Each warrant can be converted into one equity share within 18 months, after which unexercised warrants will lapse and the upfront amount paid will be forfeited.
The company is set to raise up to Rs. 74.72 crore from promoters, promoter group members, and a wide set of non-promoter investors, which will dilute existing shareholders. The preferential price of Rs. 202 acts as a near-term reference for the stock, and successful conversion of warrants within 18 months could further dilute equity.