Raj Oil Mills Limited has informed the Exchange about General Updates
ROML · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Raj Oil Mills Limited's board has approved a fund raise of up to Rs. 9.2 crores through a preferential issue to 7 non-promoter investors. The company will issue up to 10 lakh equity shares and up to 10 lakh convertible equity warrants, each priced at Rs. 46 per security (face value Rs. 10 + premium Rs. 36). The equity share portion will bring in Rs. 4.6 crores and the warrant portion another Rs. 4.6 crores. Each warrant is fully convertible into one equity share within 18 months from allotment. Post-allotment, the company's paid-up equity capital will increase from Rs. 14.98 crores to Rs. 16.98 crores. The issue is subject to shareholder approval and other regulatory clearances.
The preferential issuance to non-promoters will dilute existing shareholders. The warrant conversion could further increase the equity base within 18 months. No specific use of funds for debt repayment was disclosed.