Long Term Sustainability and Fund Raising Plan
PROPOSED FUND RAISE OF ~ RS. 100 CRS.
KAMDHENU
Samouma Suraksha Ki Guarantee
STEEL
•
The Board of Directors of the Company at their meeting held on 13th January,
2024 has approved the withdrawal of the Preferential Issue of 50,00,000 warrants
convertible into equity shares, which was approved by the Board at their meeting
held on 11th November, 2022, and subsequently approved by the shareholders of
the Company at their Extra-Ordinary General Meeting held on 9th December,
2022, which could not be completed in view of seeking clarification on the issue
price from regulatory authorities, the period of 12 months lapsed from the
passing of the said Special Resolution, within which allotment against the said
preferential issue had to be made. Therefore, Board of Directors of the Company
has accorded their approval to withdraw the above said proposal of fund raising,
since the resolution has become infructuous.
Objectives
Acquiring stake strategically in some of the franchisee units
so as to re-modeling of franchisee business of the company
Capital expenditure in existing manufacturing unit and/or
acquiring & setting up of new office premises
The Board of Directors in its meeting held on 13th January, 2024, had approved
the issue of convertible warrants and accordingly proposes to issue and allot in
aggregate up-to maximum of 27,50,000 (Twenty Seven Lakhs Fifty Thousand Only)
convertible warrants at an issue price of Rs. 353/- (Rupees Three Hundred and
Fifty Three Only) (including premium of Rs. 343/- each) or such other price as may
be ascertained by the Statutory or Regulatory Authorities, to the
entities/individuals belonging to Non-Promoter category, on a preferential basis
subject to the approval of shareholders in ensuing extra-ordinary general meeting
scheduled to be held on 8th February, 2024 and in compliance with applicable
provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations
2018, as amended, and other provisions of applicable laws.
Investments in existing and/or new business ventures in
India and/or overseas for diversification
Enhancing and strengthening the brand position and
corporate image to leverage the overall brand premium
Other general corporate purposes
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