This is to inform you that pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Board at its meeting held today i.e. ....
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The Board approved allotment of 70,000 equity shares (face value Rs. 5) at Rs. 207 each (premium Rs. 202) to two non-promoter individuals upon conversion of warrants, bringing in approximately Rs. 1.45 crore. The Board recommended a 7:1 bonus issue (seven shares for every one held) and a small dividend of 12.50 paise per share (2.5%) for FY 2024-25, with July 4, 2025 fixed as the record date for both. Authorised share capital was proposed to be raised from Rs. 5 crore to Rs. 13.50 crore, subject to shareholder approval at the AGM on July 11, 2025. Several appointments were cleared, including statutory auditor M/s Gada Chheda & Co. LLP for 5 years and CFO Binal Anish Mehta as Whole Time Director.
Shareholders stand to benefit from a generous 7:1 bonus issue, which will significantly expand the share base and improve liquidity, though the dividend is modest. The warrant conversion is a small dilution and the proposed capital increase leaves room for future fundraising. Overall positive shareholder action, but keep an eye on potential dilution from the 2.59 lakh warrants still pending conversion.