We wish to inform you that the Extra-Ordinary General Meeting if the Company will be held on Wednesday, December 10, 2025 at 4:00 p.m. through Video Conferencing / Other Audio Visual Means ....
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Awaiting price reaction for this filing.
Subam Papers Limited (BSE: SUBAM) has called an EGM on Wednesday, December 10, 2025 at 4:00 p.m. via Video Conferencing, with remote e-voting open from December 7 to December 9, 2025 (cut-off date December 3, 2025). Two special resolutions are on the agenda: (1) increasing authorised share capital from ₹25.05 crore to ₹32.05 crore (from 2.5 crore to 3.2 crore equity shares of ₹10 each), and (2) raising up to ₹107.04 crore through a preferential issue at ₹152 per share — comprising 44,09,600 equity shares and 26,32,800 warrants (each convertible into 1 equity share within 18 months). The warrants are proposed to be allotted to promoters T. Balakumar, Alagarsamy Sudha, and BMM Paper Board Private Limited, with equity shares going to non-promoter allottees. The aggregate preferential issue represents 23.25% of the post-issue fully diluted paid-up capital, and the issue price of ₹152 is above the SEBI floor price of ₹148.58. Brickwork Ratings has been appointed as the monitoring agency since the issue size exceeds ₹100 crore.
Existing shareholders will see dilution of about 23.25% on a fully diluted basis once both shares and warrants are issued and converted. The company is raising fresh capital at a premium above the SEBI-determined floor price, which is broadly positive, though promoter participation in warrants may be a signal of continued promoter commitment. Shareholders should vote on the resolutions during the December 7–9 e-voting window (cut-off: December 3, 2025).