Outcome of Board Meeting held on 18th March 2026
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Raconteur Global Resources Ltd's board approved the allotment of 55,64,283 equity shares at ₹14 each (face value ₹10, premium ₹4) to non-promoters, comprising 11,49,998 shares for cash (₹1.61 crore) and 44,14,285 shares via loan conversion (₹6.18 crore). The company's paid-up capital rose to ₹10.78 crore. Additionally, 72,49,998 convertible warrants were allotted to five non-promoter entities at ₹14 each (total ₹10.15 crore), with 25% paid upfront and the balance due within 18 months. Mr. Arvinder Singh Kohli was appointed as a Non-Executive Independent Director, and Mr. Surinder Kalra (the existing Whole-Time Director) was also appointed as Internal Auditor.
The preferential allotments and warrants will significantly dilute existing shareholders once warrants are converted, potentially increasing the share count by over 1.28 crore shares (~120% of current capital). The dual role of Whole-Time Director and Internal Auditor held by the same individual is a notable corporate governance concern for investors to monitor.