EGM on Oct 31, 2026 to approve issue of 40 lakh equity warrants at Rs 81
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EGM on Oct 31, 2026 will consider issuing up to 40 lakh equity warrants at Rs 81 each (Rs 71 premium) on a preferential basis, raising up to Rs 32.40 crore. Allottees include 4 promoters and 23 non-promoter persons or HUFs. 25 percent payable upfront, balance on exercise within 18 months. Proceeds earmarked for working capital, land acquisition, and manufacturing facility expansion. E-voting runs Oct 28 to Oct 30, 2026.
Preferential warrant issue may dilute existing shareholders upon exercise. Promoter participation signals confidence. Funds meant for expansion.