Outcome of Board Meeting held today on Tuesday, 07th October, 2025 and Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015
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Swojas Foods Limited's Board, on October 7, 2025, approved raising funds up to ₹90 Crores through the issue of Convertible Equity Share Warrants or similar convertible securities via Preferential Issue and Private Placement, subject to shareholder approval. The Board accepted the resignations of Mrs. Jyoti Khandelwal (Non-Executive, Non-Independent Director) and Mrs. Dhwani Naishadh Modi (Independent Director), both citing pre-occupation. It also appointed Ms. Ranu Jain and Mr. Abhay Kumar Sethia as Additional Non-Executive, Independent Directors, and re-designated Mr. Pallav Pareshkumar Dave from Independent Director to Non-Executive, Non-Independent Director. The Stakeholders Relationship, Audit, and Nomination & Remuneration Committees were reconstituted accordingly. Additionally, the previously proposed Rights Issue (announced October 4, 2024, with BSE in-principle approval on November 29, 2024) has been postponed citing evolving business priorities and market conditions.
The ₹90 Crore fund-raising plan via convertible warrants could lead to dilution of existing shareholders once finalised, while the postponement of the Rights Issue signals a shift in capital-raising strategy. Multiple board changes, including loss of two independent directors and re-designation of one, may affect governance composition and investor confidence.