Please find attached the outcome of the meeting of the Board of Directors held on Monday 7th April 2025, at 03:00 p.m. The meeting commenced at 03:00 p.m. The meeting concluded at 05:00 p.m.
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The Board of Supra Pacific Financial Services Ltd met on April 7, 2025, and approved two fundraising proposals. First, the issuance of secured, unrated, unlisted Non-Convertible Debentures (NCDs) of ₹1,000 face value, up to ₹10 crore, on a private placement basis. Second, a preferential allotment of 33,33,333 equity shares at ₹30 per share (face value ₹10, premium ₹20), aggregating to ₹10 crore, to 13 named allottees. Member approval will be sought via postal ballot through remote e-voting. A scrutinizer (CS Vivekkumar of DV and Associates) has been appointed to oversee the postal ballot process. The Board also reviewed the company's business operations and prospects.
The company is raising up to ₹20 crore in fresh capital, which could support growth but will dilute existing shareholders by about 17% (assuming current share count) and add debt obligations. The unrated nature of the NCDs signals higher risk for debt investors. The preferential allotment at ₹30 to a small group of investors suggests closely-held capital infusion rather than broad market participation.