Corporate Action10 April 2026 at 08:13 am
Almondz Board OKs ₹25 Cr Preferential Allotment via Loan Conversion
AI Summary
Almondz Global Securities Ltd's Board of Directors approved a preferential allotment of equity shares. This involves issuing up to 1,63,18,538 fully paid-up equity shares of ₹1/- each at an issue price of ₹15.32/- per share, totaling ₹25 Crore. The shares are being issued to the promoter, M/s Avonmore Capital & Management Services Limited, by converting an existing unsecured loan into equity. The board also approved convening an Extra-Ordinary General Meeting (EGM) on May 11, 2026, to seek shareholder approval for this matter, which is subject to necessary regulatory approvals.
Key Highlights
- Board approved preferential allotment of equity shares.
- ₹25 Crore worth of shares issued to promoter.
- Unsecured loan converted into 1.63 Crore equity shares.
- Issue price set at ₹15.32 per share.
- EGM scheduled for May 11, 2026, for shareholder approval.