Notice of EGM to be held on December 26, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Radhe Developers has called an EGM on December 26, 2025 to seek shareholder approval for converting an unsecured loan of Rs. 6.41 crore from promoter Mr. Ashish Praful Patel into equity shares. The company will issue up to 2,51,39,620 shares at Rs. 2.55 per share (face value Rs. 1 plus premium of Rs. 1.55). This allotment will be made only to the promoter group via preferential issue. Promoter shareholding will rise from 47.27% to 49.69%, with Mr. Ashish Patel's individual stake increasing from 20.16% to 23.82%. The company has admitted it could not repay the loans due to financial crunch and cash flow mismatch, making this conversion a way to reduce liabilities and strengthen net worth. Total outstanding shares will increase from about 52.37 crore to 54.89 crore, diluting public shareholders by roughly 4.8%.
Existing public shareholders face about 4.8% dilution, while the promoter's stake and control increase meaningfully. The move points to financial stress at the company since it explicitly cites inability to repay unsecured promoter loans and is using equity to settle debt rather than raising fresh cash.