Pursuant to Regulations 30 of the SEBI (LODR) Regulations, 2015, we would like to intimate that the Board of Directors of the Rose Merc Limited have, at their meeting held today, i.e., ....
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Rose Merc Limited's Board, at its meeting on July 21, 2025, approved a preferential issue of up to 2,71,167 equity shares at Rs. 90 per share (face value Rs. 10, premium Rs. 80) to non-promoter investors, subject to shareholder approval at the AGM on August 25, 2025. Additionally, the Board approved the issuance of 2,06,000 convertible warrants (convertible into equal equity shares at Rs. 90 per share) on a preferential basis to non-promoters, with an 18-month conversion tenure and 25% upfront payment. The Board also fixed August 18, 2025 as the record date for determining eligibility for the final dividend for FY2024-25, if declared, and reconstituted the Audit Committee with Mr. Shekhar Menon as Chairperson.
The preferential allotment to non-promoters will result in equity dilution for existing shareholders once approved at the AGM. The fund raise via shares and warrants, if fully subscribed, will bring in additional capital but spread shareholder dilution over time given the warrant conversion structure.