The date of Extra-ordinary General Meeting (EGM) of the Members of the Company and pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015, ....
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Western Ministil Limited has called an EGM on December 24, 2025 at 3:00 PM (via video conferencing) to seek shareholder approval for six major proposals: 1. Increase authorised share capital from Rs. 10 crore to Rs. 13.5 crore (creating 35 lakh additional equity shares of Rs. 10 each). 2. Preferential issue of 40 lakh equity shares and 68,42,814 convertible warrants at Rs. 10 each (total ~Rs. 10.84 crore) to 12 named allottees. Notably, top allottees Kalpesh Patel (30 lakh shares + 30 lakh warrants) and Vandana Patel (5 lakh shares + 15 lakh warrants) will become promoters after triggering an Open Offer under SEBI takeover rules — signalling an effective change in control. 3. Raising borrowing limits to Rs. 200 crore. 4. Power to create charges on company assets up to Rs. 200 crore. 5. Raising inter-corporate loans/investments/guarantees limit to Rs. 200 crore. 6. Amendment to the company's object clause to add new business lines — machinery trading, tin/container manufacturing, and chemicals trading (gypsum, castor oil, solvents).
This EGM is significant for shareholders: a change of control is incoming via the preferential issue and open offer, the company is expanding into new business verticals, and both authorised capital and debt capacity are being substantially scaled up. Existing shareholders should evaluate dilution (~40 lakh new shares) and the loss of promoter stability as the Patel group takes over management post-open offer.