This is to inform all the stakeholders that Board of Directors in their meeting held today has allotted 5000000 Equity Shares to Mr Rajendra Kamalkant Chodankar as per preferential issue.
Awaiting price reaction for this filing.
Euro Asia Exports Limited (scrip code 530929) has allotted 50,00,000 equity shares to Mr Rajendra Kamalkant Chodankar (non-promoter) at Rs 10 per share, raising a total of Rs 5 crore. This follows shareholder approval on 24th February 2025 and BSE in-principle approval on 3rd April 2025. The paid-up equity capital rises from Rs 8.72 crore (87.18 lakh shares) to Rs 13.72 crore (1.37 crore shares), a 57% expansion of the share base. As a result of this preferential issue to a non-promoter, the public shareholding increases from 97.09% to 98.15%, while promoter holding dilutes from 2.91% to 1.85%. Note: The headline lists the company as RRP Defense Ltd, but the filing itself is from Euro Asia Exports Limited, suggesting a recent name change.
The Rs 5 crore fundraise is modest in scale, but the significant dilution of over 57% in share count to a single non-promoter individual investor could weigh on the stock in the short term. Existing shareholders should track how the new investor's stake aligns with the company's stated strategy, especially given the company's identity transition to RRP Defense Ltd.