Tunwal E-Motors Limited — QIP/Rights/Pref., 24-02-2025: Preferential issue

Tunwal E-Motors Limited has approved a preferential issue of up to 24,44,444 equity shares at an issue price of Rs. 45 per share, aggregating to Rs. 10.99 Cr. This issuance is aimed at converting an outstanding unsecured loan of Rs. 16 Cr, with Rs. 11 Cr still due. The shares will be allotted to promoter Jhumarmal Pannaram Tunwal. Approval from shareholders will be sought via a postal ballot. Post-allotment, the promoter’s shareholding will increase from 33,048,332 shares (59.76%) to 35,492,776 shares (61.46%).