Ratnaveer Precision Engineering Limited has informed the Exchange about General Updates with respect to increase in authorised share capital
RATNAVEER · price
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The board of Ratnaveer Precision Engineering approved increasing the company's authorised share capital from Rs. 65 Crores to Rs. 85 Crores, by adding 2 Crore more equity shares of Rs. 10 each. The company also proposed raising Rs. 211 Crores (with an additional green shoe option of up to 25%) through equity shares or other securities such as QIP, preferential issue, rights issue, FPO, GDRs, or FCCBs, subject to shareholder approval. Additionally, the Memorandum of Association will be amended to add a new object allowing the company to lend or advance money to customers and others. An Extra Ordinary General Meeting has been scheduled for July 4, 2025, to seek shareholder approval for these proposals.
The Rs. 211 Crore fund raise could lead to equity dilution depending on the mode and pricing finally chosen, while the authorised capital hike is a preparatory step to enable the issuance. Shareholders should watch the EGM outcome and the pricing details once a specific route (QIP, rights, preferential, etc.) is finalised.