Ratnaveer Precision Engineering Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
RATNAVEER · price
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Ratnaveer Precision Engineering Limited's board, at its meeting on June 6, 2025, approved raising its Authorised Share Capital from Rs. 65 Crores to Rs. 85 Crores, along with amendments to its Memorandum of Association (MOA). The company also proposed raising Rs. 211 Crores (with an additional green shoe option of up to 25%) through the issuance of equity shares or other eligible securities such as QIP, Rights Issue, FPO, GDR, FCCB, or bonds/debentures. Additionally, a new ancillary object was added to the MOA allowing the company to lend money or provide advances to customers and others (excluding banking business). An Extra-Ordinary General Meeting (EGM) has been scheduled for July 4, 2025, to seek shareholder approval for these proposals.
The proposed fund raise of Rs. 211 Crores could lead to equity dilution depending on the mode of issuance finally chosen. Existing shareholders should watch for further announcements on pricing, instrument type, and allotments. The increase in authorised capital and MOA amendments are preparatory steps to facilitate the fund raise and enable lending activities.