Spice Islands Industries Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 29/11/2025 ,inter alia, to consider and approve Allotment of 19,33,324 ....
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Spice Islands Industries has informed BSE that its Board of Directors will meet on November 29, 2025, to consider and approve the allotment of 19,33,324 equity shares of face value Rs. 10 each at a premium of Rs. 35 per share. This allotment is being done pursuant to the conversion of all 19,33,324 convertible warrants, which were originally approved by shareholders at the Annual General Meeting held on August 19, 2024. The total issue price works out to Rs. 45 per share. No other major business items are mentioned, apart from any other matter with the Chair's permission.
The conversion will increase the company's equity share count by 19,33,324 shares, leading to dilution for existing shareholders. However, since this conversion was already pre-approved at the 2024 AGM, it is largely a procedural completion rather than fresh fundraising, and may bring in additional capital into the company.