AVRO INDIA LIMITED — Others, 28-12-2024: Shareholders meeting

Avro India Limited has announced a board meeting on January 19, 2025, to convene an Extraordinary General Meeting (EGM) at which shareholders will vote on two key resolutions. The first involves the issuance of up to 2,575,320 equity shares to non-promoters at an issue price of ₹185.50 each, totaling ₹47.77 crore. The second resolution proposes the issuance of 323,450 warrants to a promoter group at the same price, which may convert into equity shares. The company aims to raise funds for a greenfield plastic waste recycling project, long-term working capital, and general corporate purposes. This strategic move could enhance operational capacity and investor interest due to potential growth in sustainability initiatives.