With reference to the captioned subject and in furtherance to the intimation dated May 05, 2026, and pursuant to Regulation 30 of the SEBI LODR Regulations, we wish to inform you that the ....
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Porwal Auto Components Ltd's Board approved issuance of up to 17,54,384 equity shares to non-promoter investors at Rs. 57 per share, aggregating approximately Rs. 10 crore. Additionally, the Board approved issuance of up to 3,94,735 convertible warrants to the promoter group at Rs. 57 per warrant, aggregating about Rs. 2.25 crore. For warrants, 25% (Rs. 14.25) is payable upfront and 75% (Rs. 42.75) on conversion within 18 months. An Extra Ordinary General Meeting is scheduled for June 5, 2026 to seek shareholder approval for these preferential issues.
The preferential issuance will dilute equity but brings fresh capital to the company. Warrants issued to promoter group could lead to further dilution upon conversion within 18 months. Both issuances are at a 47 rupee premium over face value of Rs. 10.