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Awaiting price reaction for this filing.
Rose Merc Ltd filed a revised outcome of its July 21, 2025 board meeting to correct a clerical/typographical error in the number of equity shares proposed for a preferential issue to non-promoter investors. The equity share count was reduced from 2,71,167 to 2,60,056 shares, to be issued at Rs. 90 per share (face value Rs. 10 + premium of Rs. 80). Separately, 2,06,000 convertible warrants will also be issued at the same Rs. 90 price, with an 18-month tenure and 25% upfront payment. The warrants, if fully converted, would add another 2,06,000 equity shares. The total potential capital raise at issue price is approximately Rs. 4.19 crore (Rs. 2.34 crore from equity shares + Rs. 1.85 crore from warrants). All subscribers are non-promoter individuals, HUFs, and small private entities — no institutional or marquee investors.
Existing shareholders will face slight dilution once shares and warrants are allotted, but the correction actually reduces dilution marginally compared to the earlier filing. There is no material change in the structure of the preferential issue. Investors should note that 25% of warrant consideration is at risk of forfeiture if warrants are not exercised within 18 months.