Ujaas Energy Limited has informed the Exchange about General Updates
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Ujaas Energy's board has approved raising the authorised share capital from ₹45 crore to ₹52 crore to accommodate new issuances. The company will allot 12.75 crore equity shares to non-promoter investors at ₹11 per share (a ₹10 premium over the ₹1 face value), raising about ₹140.33 crore through a preferential issue to 81 allottees, subject to shareholder approval. Additionally, 24 crore equity shares will be issued to SVA Family Welfare Trust (the Resolution Applicant) at ₹1 per share against a convertible RA loan under the approved resolution plan, aimed at meeting the Minimum Public Shareholding requirement. An Extra-Ordinary General Meeting will be held to seek shareholder approval for these proposals.
The ₹140 crore preferential infusion could strengthen the company's balance sheet, but the issue of 24 crore shares at face value to SVA Family Welfare Trust will significantly dilute existing shareholders to meet the minimum public shareholding norm, which may weigh on the stock price in the short term.