Announced Mon, 27 Jul · 15:09 IST
Raj Oil Mills board approves name change and preferential share, warrant allotment
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ROML · price
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Price reaction · full curve 14 horizons · vs prior close
+1.8%1-day move
₹44.10
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AI summary
Board approved changing company name from Raj Oil Mills Limited to Raj Industries Limited, subject to regulatory and shareholder approvals. Also allotted 10 lakh equity shares at Rs. 46 each (premium Rs. 36) to non-promoters, raising Rs. 4.60 crore. Separately, allotted 10 lakh warrants at Rs. 46 each, with 25 percent upfront (Rs. 1.15 crore received), convertible within 18 months. Paid-up capital rises from Rs. 14.99 crore to Rs. 15.99 crore.
Likely market impact
Name change hints at business pivot. Preferential allotment raises Rs. 5.75 crore but causes dilution. Warrants may add further dilution if converted.