This is to inform all the stakeholders that Board of Directors in their meeting held today has allotted 5000000 Equity Shares to Non-Promoters as per preferential issue
Awaiting price reaction for this filing.
The Board of Directors of Euro Asia Exports Limited approved the allotment of 50 lakh equity shares to Mr. Rajendra Kamalkant Chodankar (a non-promoter) on a preferential basis at Rs 10 per share, raising Rs 5 crore in fresh capital. The allotment follows shareholder approval on February 24, 2025, and BSE in-principle approval dated April 3, 2025. As a result, the company's paid-up equity capital rises from Rs 8.72 crore (87,18,800 shares) to Rs 13.72 crore (1,37,18,800 shares), an increase of about 57% in total share count. Promoter holding gets diluted from 2.91% to 1.85%, while public shareholding rises from 97.09% to 98.15%. The funds have already been received by the company.
This is a significant equity dilution of around 57% for existing shareholders, which will reduce earnings per share proportionally. The Rs 5 crore infusion does strengthen the balance sheet, but investors should watch for announcements on how this capital will be deployed to generate returns.