With reference to the subject cited, this is to inform the Exchange that the meeting of the Board of Directors of Western Ministil Limited held on Wednesday, November 26, 2025 at the registered ....
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The Board of Western Ministil Limited, at its meeting on November 26, 2025, approved raising the authorised share capital from Rs. 10 crore to Rs. 13.5 crore to create room for new issuances. The company also approved a preferential allotment of 40 lakh equity shares and 68,42,814 convertible warrants at Rs. 10 each, aggregating roughly Rs. 10.84 crore, to a mix of incoming promoters and non-promoter investors. The biggest allottees, Kalpesh Naginbhai Patel (46.15% post-issue) and Vandana Patel (15.38% post-issue), will be reclassified as promoters after completing an open offer, effectively resulting in a change of control. The Board also raised the borrowing, charge-creation, and investment limits under Sections 180 and 186 of the Companies Act to Rs. 200 crore each. An Extraordinary General Meeting is scheduled for December 24, 2025 to seek shareholder approval for all of the above items.
Existing shareholders will see significant dilution as the new promoter group ends up holding about 83.41% of the company after the preferential issue and open offer, which also signals a change in management control. The sharp expansion of borrowing and investment limits up to Rs. 200 crore suggests the new management may pursue aggressive growth, debt, or acquisition activity, warranting close attention by current investors.