Postal Ballot Notice
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Swadeshi Industries & Leasing Ltd is seeking shareholder approval via postal ballot (e-voting from April 22 to May 21, 2025) on four special resolutions. The key proposal is the issuance of up to 1,23,10,000 convertible warrants at Rs. 10 each (aggregating Rs. 12.31 crores) on a preferential basis to promoters, promoter group members, and non-promoter individuals, with each warrant convertible into one equity share within 18 months. The company also proposes to double its authorised share capital from Rs. 12.5 crores to Rs. 25 crores (to 2.5 crore equity shares of Rs. 10 each) to accommodate the warrant conversion. Additionally, shareholders will vote on altering the Articles of Association to enable preferential issues, and on approving loans up to Rs. 5 crores from directors and promoters with an option to convert into equity. The warrants require 25% upfront payment, with the balance 75% due at the time of conversion.
If approved, existing shareholders will face equity dilution when warrants are converted (up to ~98% expansion of equity base at full conversion). The significant promoter and promoter-group participation (about 50 lakh of the 1.23 crore warrants) signals insider confidence, while the preferential pricing at par may be viewed unfavourably compared to prevailing market price. Short-term stock may react to the dilution overhang, though the capital raise strengthens the balance sheet for future business needs.