Charms Industries Approves ₹4.9 Cr Preferential Issue & Warrants
Charms Industries Ltd's Board of Directors has approved a significant capital raise through a preferential issue of up to 2,45,00,000 equity shares at ₹2 per share, aggregating up to ₹4,90,00,000 (₹4.9 Crore). Additionally, the company approved the issuance of up to 12,55,00,000 convertible warrants at ₹2 per warrant, potentially raising up to ₹25,10,00,000 (₹25.1 Crore). These actions are subject to shareholder and regulatory approvals. The board also approved an increase in authorized capital from ₹4.5 Crore to ₹16.5 Crore. Furthermore, a Share Purchase Agreement was executed for the acquisition of 24.37% stake by proposed promoters, triggering an open offer obligation and leading to a promoter reclassification.
Key Highlights
- Board approves preferential issue of 2.45 Cr shares at ₹2, raising ₹4.9 Cr.
- Approves issuance of 12.55 Cr warrants, potentially raising ₹25.1 Cr.
- Authorized capital increased from ₹4.5 Cr to ₹16.5 Cr.
- Proposed promoters to acquire 24.37% stake, triggering open offer.
- Existing promoters to be reclassified as public shareholders.
Price Impact
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