Ratnaveer Precision Engineering Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on January 10, 2026
RATNAVEER · price
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Awaiting price reaction for this filing.
Ratnaveer Precision Engineering has issued a corrigendum to its earlier EGM notice (dated 19 December 2025) ahead of the EGM scheduled for 10 January 2026. The correction fixes the 'relevant date' for pricing from 12 December 2025 to 11 December 2025 (30 days prior to the EGM), which slightly raises the floor price per warrant from Rs. 159 to Rs. 159.25. The company now proposes to issue 72,32,704 convertible warrants at Rs. 159.25 each, raising approximately Rs. 115.18 crore from promoter Vijay Ramanlal Sanghavi, promoter group member Seema Vijay Sanghavi, and promoter-group entity Ratnaveer Ventures Private Limited. Of the funds, 77% (around Rs. 88.69 crore) will go to working capital and 23% (around Rs. 26.49 crore) to general corporate purposes. Since the issue exceeds Rs. 100 crore, the company will also appoint a monitoring agency to track fund utilisation, and has obtained a valuation report and a chartered accountant certificate supporting the pricing.
This is a promoter-led fundraise of about Rs. 115 crore at a price (Rs. 159.25) close to market-determined floor price, which is mildly positive as it shows promoter confidence. The warrants will dilute existing shareholders by roughly 8-9% upon conversion, but use of proceeds is clearly defined with a monitoring agency in place, reducing governance risk.