United Polyfab Gujarat Limited has informed the Exchange about Preferential issue
UNITEDPOLY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
United Polyfab Gujarat's board has approved issuing up to 2,29,51,550 convertible warrants to its two promoters — Mr. Gagankumar Mittal and Mr. Nirmalkumar Mittal — at Rs. 18.25 per warrant, aggregating to about Rs. 41.89 crores. Each warrant is convertible into one equity share of Rs. 1 face value within 18 months, with 25% payable upfront and the rest on conversion. The issue price equals the floor price set under SEBI's ICDR Regulations (premium of Rs. 17.25 over face value). An EGM has been scheduled for July 19, 2025 to seek shareholder approval, alongside an increase in authorized capital from Rs. 25 crore to Rs. 26 crore.
This is a promoter-led capital infusion, not a public fundraising. If fully converted, the two promoters' combined stake would rise to about 41.5% from 35.6%, with an effective dilution of roughly 10% for existing non-promoter shareholders. The stock may see short-term pressure from potential dilution, but promoter confidence in infusing fresh capital is a positive signal.