Outcome of the Board Meeting held on today i.e. June 18, 2025
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True Green Bio Energy Ltd's Board of Directors, at its meeting on June 18, 2025, approved the allotment of 30,35,714 equity shares of Rs. 10 each upon conversion of an equal number of warrants held by M/s. Vikasa India EIF I Fund. The warrants were originally issued on a preferential basis on October 15, 2024 at an issue price of Rs. 70 per warrant (including Rs. 60 premium), with 25% paid at allotment and the balance 75% (Rs. 52.50 per warrant) now received, aggregating to Rs. 15,93,74,985. Post-allotment, the paid-up equity share capital of the company has increased to Rs. 32,95,71,430 comprising 3,29,57,143 equity shares of Rs. 10 each. The newly allotted shares will rank pari-passu with existing equity shares.
The conversion increases the equity base and brings in approximately Rs. 15.94 crore into the company, strengthening its capital. There is a minor dilution effect for existing shareholders due to the additional shares issued, though the company had flagged this event back in October 2024.