Please find enclosed outcome of Board Meeting dated 01-05-2026.
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The Board of Uday Jewellery Industries Ltd approved the conversion of 4,50,000 warrants into an equal number of equity shares at Rs. 154 per share, raising Rs. 69.3 crore. Of these, 1,50,000 shares were allotted to promoter group persons (Sakshi Sanghi and Mahima Sanghi, 75,000 each) and 3,00,000 shares to non-promoter/public allottees (Mehak Agarwal, Aishwarya Agarwal, Neeraj Kumar Gupta, and Anuradha Gupta). Post-allotment, the company's paid-up equity share capital increased to Rs. 34.05 crore across 3,40,52,925 shares. Additionally, Mr. Uday Sanghi was authorized to vote in favour of Malabar Gold and Diamonds Limited's merger scheme at an NCLT-convened creditors meeting.
The warrant conversion will cause equity dilution for existing shareholders. The conversion at a significant premium and promoter participation signals confidence. The company's involvement in Malabar Gold's mega merger could reshape its competitive position in the jewellery industry.