Kolkata, January 26, 2025—Julien Agro Infratech Limited (BSE: 536073) has announced a postal ballot process to seek shareholder approval for raising to ₹27 crore through a preferential allotment of 2 crore fully convertible equity warrants. The issue will be offered to non-promoter investors and priced at ₹13.50 per warrant (including a premium of ₹8.50 per share).
Key Details of the Fundraising Plan
- Total Convertible Warrants: 2 crore
- Issue Price: ₹13.50 per warrant
- Conversion Ratio: Each warrant converts into one equity share of ₹5 face value
- Total Funds to be Raised: ₹27 crore
- Investor Category: Non-promoter group
Increase in Authorized Share Capital
In addition to the fundraise, Julien Agro Infratech has proposed increasing its authorized share capital from ₹21 crore (4.2 crore shares) to ₹30 crore (6 crore shares) to accommodate future equity issuances.Preferential Allotment Conditions
- Initial Payment: Investors must pay 25% upfront; the remaining 75% is due upon conversion within 18 months.
- Lock-in Period: Warrants and converted shares will be locked in as per SEBI regulations.
- Conversion Timeline: Warrants must be converted into shares within 18 months, failing which the upfront payment will be forfeited.
Shareholding Impact
If fully converted, the new shares will dilute existing holdings and increase public shareholding to 69.49% from 54.07%, while promoter holding will remain unchanged at 30.51%.Regulatory Compliance & Voting Timeline
- E-voting Opens: January 27, 2025
- E-voting Closes: February 25, 2025
- Results Declaration: February 27, 2025
With this strategic fundraising, Julien Agro Infratech aims to strengthen its financial position and accelerate growth in the agro and infrastructure sectors.