Tunwal E-Motors Limited — QIP/Rights/Pref., 11-03-2025: Issue of Securities

Tunwal E-Motors Limited has announced a board meeting on the preferential issue of 2,391,304 equity shares to its promoter, Jhumarmal Pannaram Tunwal, at an increased issue price of Rs. 46 per share. This adjustment results in an aggregate amount of approximately Rs. 10.99 crore. The shares are issued as part of the conversion of an outstanding unsecured loan totaling Rs. 16 crore, with Rs. 11 crore remaining due as of January 31, 2025. Post allotment, the promoter's equity holding will rise to 61.43%. Shareholder approval is pending.