Please find enclosed herewith outcome of Board Meeting held today i.e. 17th April, 2025
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The Board of Directors of Royal Sense Limited, at its meeting on 17th April 2025, approved a preferential issue of up to 4,00,000 convertible equity warrants at Rs. 251 per warrant, aggregating to about Rs. 10.04 Crore. Each warrant carries the right to subscribe to one equity share of face value Rs. 10 at the same price, implying a premium of Rs. 241 per share. The warrants are proposed to be allotted to 26 allottees, including promoter and Managing Director Rishabh Arora (2,50,000 warrants) along with 25 non-promoter individuals. The warrants, if allotted, can be converted into equity shares at any time within 18 months from the date of allotment. The Board also fixed 16th May 2025 as the date of an Extra-Ordinary General Meeting to seek shareholders' approval for the preferential issue.
If approved and fully converted, the preferential issue will result in issuance of up to 4 lakh additional equity shares, diluting existing shareholders. Promoter Rishabh Arora's stake is expected to rise marginally from 61.50% to 61.57% on a fully diluted basis. Stock may see short-term pressure due to dilution, though the capital infusion of ~Rs. 10 Crore could support the company's growth plans.