Intimation pursuant to Regulations 30 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Notice convening Extra Ordinary General Meeting of the members of the Company on Saturday, 28th June 2025 at 12.30 P.M. (IST) through Video Conferencing ( VC ) / Other Audio Visual Means ( OAVM )
PRUDMOULI · price
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Prudential Sugar Corporation has called an EGM on June 28, 2025 (via video conferencing) to get shareholder approval for changing the 'Objects of the Issue' tied to a previously approved preferential issue of 1,25,00,000 equity shares to non-promoters at Rs. 35 per share (Rs. 10 face value + Rs. 25 premium), raising about Rs. 43.75 crore in total. The original object clause is being expanded to add 'venturing into the business of Green Energy as a Green Field Project', which the Chairman had mentioned in the earlier EGM held on October 18, 2024, prompting stock exchanges to seek fresh shareholder approval. The revised object now covers business growth, subsidiary investments/acquisitions, new business areas, Green Energy as a greenfield project, capex, working capital, and general corporate purposes. Post-issue, the promoter's stake will fall from 63.01% to 45.41%, while public shareholding will rise to 54.59% (total shares going from 3.22 crore to 4.475 crore). Cut-off date for e-voting eligibility is June 20, 2025, with remote e-voting open from June 25 to June 27, 2025.
Shareholders should note this signals a planned diversification into Green Energy alongside the core sugar business, but it also involves meaningful promoter dilution of nearly 17.6 percentage points. Existing investors may want to review the revised object clause and the preferential issue terms carefully before voting, as approval will formally green-light the Green Energy direction and the share allotment.