United Polyfab Gujarat Limited has informed the Exchange regarding the outcome of the Board meeting held on July 08, 2025 in continuation of the meeting held on June 21,2025.
UNITEDPOLY · price
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United Polyfab Gujarat Limited's board, in a meeting on July 8, 2025 (continuing from the June 21, 2025 meeting), noted a revised valuation report from an independent registered valuer for its upcoming preferential issue of convertible warrants. The board approved a revised issue price of Rs. 18.89 per warrant for up to 2,29,51,550 (about 2.3 crore) convertible warrants to be issued on a preferential basis. A corrigendum along with a revised notice will be sent to members, and an Extra Ordinary General Meeting (EGM) will be convened for shareholder approval. The potential total issue size at this revised price works out to roughly Rs. 43.3 crore (before any premium on conversion).
This is a dilutive event for existing shareholders since preferential warrants expand the share capital once exercised. The downward price revision (necessitating a fresh valuation report) suggests the originally proposed price was higher, and shareholders should watch the EGM outcome and identify the allottees for any promoter or related-party involvement.