The outcome of meeting of the Board of Directors of the Company held today i.e. Monday, 01st June, 2026 has been attached herewith.
Awaiting price reaction for this filing.
Audroc Ltd's Board, at its meeting on June 1, 2026, approved issuing up to 20 crore fully convertible equity warrants on a preferential basis at Rs. 4 per warrant, potentially raising up to Rs. 80 crore. Each warrant (face value Re. 1) is convertible into one equity share within 18 months, with 25% upfront payment and the balance 75% on exercise. The warrants are proposed to be allotted to 6 individual investors, all bearing the Patel surname, of whom two already hold 50% and 19.23% of the company pre-issue. An Extra-Ordinary General Meeting has been scheduled for June 27, 2026 to seek shareholder approval for the issuance. Separately, the Board accepted the resignation of Secretarial Auditor J.D. Khatnani & Associates and appointed M/s. Avni & Associates in their place, while also appointing J M Patel & Bros as Tax Auditor for FY 2026-27.
The warrant issuance will be dilutive to existing non-allottee shareholders once exercised, but the allottees appear to be from the existing promoter/promoter group based on their substantial pre-issue holdings, suggesting this is effectively a promoter-led fundraising rather than a fresh dilution. Investors should watch the floor price determination under Reg. 165 and the EGM outcome on June 27, 2026.