Raj Oil Mills Limited has informed the Exchange regarding Notice of Postal Ballot
ROML · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Raj Oil Oil Mills Limited is seeking shareholder approval via postal ballot for three special resolutions. First, the company proposes to issue up to 10 lakh equity shares at Rs. 46 per share (face value Rs. 10) to six non-promoter allottees for Rs. 4.6 crore. Second, the company proposes to issue up to 10 lakh convertible warrants at Rs. 46 each to six non-promoter allottees for Rs. 4.6 crore, with 25% payable upfront and balance on conversion within 18 months. Third, the company seeks approval to allow promoters and directors to convert loans up to Rs. 50 crore into equity shares at a price to be decided at conversion time. The voting period runs from May 13, 2026 to June 11, 2026, with Mr. S.K. Jain appointed as scrutinizer.
Shareholders should note significant potential dilution from both equity share issuance (10 lakh shares) and warrant conversion (additional 10 lakh shares possible). The loan conversion option gives promoters flexibility to reduce debt by converting it to equity at terms to be determined later. Existing shareholders will see their percentage ownership reduced if these proposals pass.