The shareholders of the Company vide special resolutions passed at the EGM held on April 28, 2025, have approved the issuance of Equity shares and convertible warrants on preferential basis ....
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POCL Enterprises shareholders approved three items at the EGM held on April 28, 2025 via special resolution. These include adoption of restated Articles of Association, issuance of 30,86,647 equity shares at Rs. 202 per share (face value Rs. 2, premium Rs. 200) to 63 promoter and non-promoter investors, raising up to Rs. 62.35 crore. Additionally, 6,12,288 convertible warrants were approved at Rs. 202 per warrant to 18 investors, potentially raising another Rs. 12.37 crore if fully converted. Each warrant can be converted into one equity share within 18 months of allotment, after which unexercised warrants will lapse. The total potential capital raise is approximately Rs. 74.72 crore, with promoter group members like Sunil Kumar Bansal, Devakar Bansal, and others participating alongside various non-promoter individuals and entities.
Existing shareholders will face equity dilution from the preferential allotment, but the company stands to raise up to Rs. 74.72 crore for growth or business needs. Promoter participation signals insider confidence, though the large number of non-promoter allottees suggests broad-based fundraising rather than a strategic deal.