Ramkrishna Forgings Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 28, 2025
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Ramkrishna Forgings has called an Extraordinary General Meeting (EGM) on Saturday, June 28, 2025 at 11:00 AM via video conferencing. The sole special business is to issue up to 9,75,000 fully convertible warrants to Riddhi Portfolio Private Limited, a promoter-group entity, at Rs. 2,100 per warrant, aggregating up to Rs. 204.75 crore. Each warrant is convertible into 1 equity share of face value Rs. 2, with the allottee required to pay 25% upfront and the remaining 75% at the time of conversion within 18 months. The relevant date for pricing is May 29, 2025, and the cut-off date for e-voting eligibility is June 20, 2025, with remote e-voting open from June 25 to June 27, 2025. Since the issue size exceeds Rs. 100 crore, a SEBI-registered monitoring agency will be appointed to track end-use of proceeds.
This is a promoter-group led capital infusion of up to Rs. 204.75 crore, signaling confidence in the company's growth, but warrants conversion within 18 months will lead to equity dilution for existing shareholders. Shareholders should review the issue price (Rs. 2,100) relative to prevailing market price and the use of funds before voting at the EGM.