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Awaiting price reaction for this filing.
Swojas Foods Ltd has called an EGM on December 3, 2025 at 12:30 PM via video conferencing, with record date of November 26, 2025. The meeting will seek shareholder approval for four items: (1) regularizing Ms. Ranu Jain as Non-Executive Independent Director for 5 years, (2) regularizing Mr. Abhay Kumar Sethia as Non-Executive Independent Director for 5 years, (3) re-designating Mr. Pallav Pareshkumar Dave from Independent Director to Non-Executive Non-Independent Director, and (4) issuing up to 4,84,84,500 convertible equity warrants at Rs. 16.50 each (face value Rs. 10, premium Rs. 6.50) on a preferential basis to 11 non-promoter allottees. The warrant issue aggregates to roughly Rs. 80 crore (Rs. 79,99,94,250), with 25% payable upfront and 75% on conversion within 18 months. Each warrant converts into one equity share at the same Rs. 16.50 price. Major allottees include Softrak Venture Investment Ltd (1 crore warrants), Onelife Capital Advisors Ltd (1 crore warrants), Zag Constructions LLP (75 lakh), and Dulcee Accessories Pvt Ltd (59 lakh).
If approved, the preferential warrant issue will dilute existing shareholders by up to 4.84 crore potential shares and bring in around Rs. 80 crore from non-promoter investors, which is a significant capital infusion relative to the company's size. Existing shareholders should watch for the floor price justification and track-record of the incoming allottees. The director changes strengthen the independent director bench, while Mr. Dave's re-designation from independent to non-independent may marginally reduce board independence.