United Polyfab Gujarat Limited — QIP/Rights/Pref., 21-06-2025: Preferential issue

United Polyfab Gujarat Limited has announced a board meeting outcome approving a preferential issue of up to 2.29 crore fully convertible warrants to promoters at Rs. 18.25 each, aiming to raise about Rs. 41.89 crore. Each warrant converts into one equity share within 18 months. The issue requires shareholder approval at an upcoming EGM. Proceeds are planned for cash consideration, with 25% payable upfront. Post-issue, promoters Gagan and Nirmalkumar Mittal’s holdings could increase to 19.28% and 22.21%, respectively. The company also plans to increase authorized share capital from Rs. 25 crore to Rs. 26 crore.