Ujaas Energy Limited has informed the Exchange about Conversion of RA loan into equity shares against the convertible RA loan as per the approved resolution plan.
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Ujaas Energy's board approved raising the authorized share capital from ₹45 crore to ₹52 crore (45 crore to 52 crore equity shares of ₹1 each). It also cleared a preferential issue of 12.76 crore equity shares at ₹11 per share (₹10 premium) to 81 non-promoter investors, bringing in about ₹140.33 crore in cash. Separately, up to 24 crore equity shares will be issued at face value (₹1) to SVA Family Welfare Trust, the Resolution Applicant, by converting its loan into equity under the approved resolution plan. Both issuances need shareholder approval at an upcoming EOGM and other regulatory clearances.
Existing shareholders will face significant dilution: 12.76 crore new shares at ₹11 plus 24 crore shares at just ₹1 to the Resolution Applicant. While the preferential raise strengthens cash reserves, the large low-priced RA loan conversion could weigh on the stock and will substantially alter the shareholding pattern, though it helps meet Minimum Public Shareholding rules.