Ramdevbaba Solvent Limited — Important, 20-12-2024: Updates

The Board of Directors has approved a fund-raising initiative through the preferential allotment of 736,000 equity shares at ₹139 each to non-promoters, expected to raise approximately ₹10.23 crore. Additionally, 1,137,600 convertible warrants will be issued to promoters at the same price, anticipated to raise around ₹15.81 crore.

An Extra-Ordinary General Meeting (EOGM) is scheduled for January 16, 2025, to finalize these plans, with book closure from January 10 to January 16, 2025. The company's registrar will facilitate e-voting, and M/s Nishtha Khandelwal & Associates has been appointed as the scrutiny agent for the voting process. This strategic move is likely to strengthen the company’s equity base and positively impact its growth prospects. Shareholders should monitor developments closely as this could signal significant corporate activity moving forward.