Announced Thu, 16 Jul · 16:33 IST
Board approves Rs. 15 Cr Rights Issue; promoters to convert loans to equity
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-4.8%1-day move
₹18.89
prior close
₹18.89
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
—-2.6——-4.8-5.0-5.2-6.4-9.2—————
Up moveDown movePending
AI summary
Poojawestern Metaliks board approved a Rights Issue of partly paid-up equity shares (face value Rs. 10) for up to Rs. 1500 Lakhs (Rs. 15 Cr) to eligible shareholders. Promoters Sunil, Anil, Vivek, and Meet Panchmatiya requested converting their non-interest bearing unsecured loans into equity by exercising their rights entitlement. Issue price, entitlement ratio, and record date are yet to be decided. Postal ballot notice approved for shareholder approval.
Likely market impact
Rs. 15 Cr Rights Issue may dilute shareholders who do not subscribe. Promoter loan-to-equity conversion strengthens balance sheet.