Postal Ballot Notice
Awaiting price reaction for this filing.
Shamrock Industrial Company Ltd has issued a Postal Ballot Notice dated May 29, 2025, seeking shareholder approval through e-voting (May 30 to June 28, 2025) for six resolutions. The company proposes to quadruple its authorized share capital from ₹10 crore to ₹40 crore and amend its Main Objects Clause to diversify into technology, blockchain, and virtual digital asset related services. It also seeks approval to issue up to 58,74,801 equity shares at ₹16.40 each (~₹9.63 crore) and up to 62,82,864 convertible warrants at ₹39.88 each (~₹25.06 crore) on a preferential basis to non-promoter allottees, alongside optionally convertible debentures. The equity share issuance will trigger a mandatory open offer, leading to existing promoters being reclassified as public shareholders and the new allottees becoming the new promoters of the company.
This is a major transformation event: shareholders should expect significant equity dilution (~₹35+ crore fundraise), a complete change in promoter identity, and a sharp pivot in business direction toward tech and digital-asset services. The stock is likely to see heightened volatility around the open offer trigger and the approval vote outcome on June 28, 2025.