Raj Oil Mills Limited has informed the Exchange regarding Notice of Postal Ballot
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Raj Oil Mills Limited is seeking shareholder approval via postal ballot for three capital-raising proposals. First, the company plans to issue up to 10 lakh equity shares at Rs. 46 per share (face value Rs. 10 + premium Rs. 36), raising Rs. 4.6 crore from 6 non-promoter allottees including Ashfaque Ahmad (5 lakh shares) and 5 others. Second, the company proposes issuing up to 10 lakh convertible warrants at the same Rs. 46 price, raising another Rs. 4.6 crore; warrant holders will pay 25% upfront (Rs. 11.50) and have 18 months to exercise each warrant into one equity share. Third, the company seeks approval for promoters and directors to provide loans up to Rs. 50 crore with an option for lenders to convert the loan into equity shares. The e-voting period runs from May 13, 2026 to June 11, 2026, and all resolutions require special resolution (i.e., 75% shareholder approval) threshold.
If all resolutions pass, up to 20 lakh new equity shares could be issued (10 lakh direct shares + 10 lakh from warrant conversion), significantly diluting existing shareholders. The Rs. 9.2 crore from equity and warrant issuances provides fresh capital, while the Rs. 50 crore loan conversion option gives promoters flexibility to shore up finances but could further dilute equity if exercised.