Ratnaveer Precision Engineering Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on July 04, 2025
RATNAVEER · price
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Ratnaveer Precision Engineering has called an EGM on July 4, 2025 at 12:30 p.m. via video conferencing. Three special resolutions will be tabled: (1) increasing authorized share capital from Rs 65 crore to Rs 85 crore by creating 2 crore additional equity shares of Rs 10 each; (2) amending the MoA to add lending and loan-guarantee powers to the company's objects; and (3) approving a fund raise of up to Rs 211 crore through issuance of equity shares and/or convertible securities via Qualified Institutions Placement (QIP), private placement, or follow-on public offer, with a green shoe option of up to 25% and discount of up to 5% permitted. E-voting window is open from July 1 to July 3, 2025, with the cut-off date of June 27, 2025. Vijay Sanghavi (MD & CFO) has signed the notice.
Existing shareholders may face equity dilution if the Rs 211 crore raise is executed, especially through the QIP route, which is restricted from allotting to promoters. The authorized capital hike is a preparatory step to enable this issuance. The addition of lending powers could lead to related-party or inter-corporate lending activity. Watch for pricing and timing once the Board decides to open the QIP window.