Ramkrishna Forgings has provided clarifications regarding its proposed preferential issue of warrants, following requests from the stock exchanges. The company has revised details concerning Point 15 of the EGM notice and the table in Point 6, as detailed in Annexures A and B. Correspondingly, an updated shareholding pattern, both pre- and post-issue, is now available. These adjustments aim to enhance transparency for investors.
Revised Preferential Issue Details
Ramkrishna Forgings has updated information related to the preferential issue of warrants. The changes address clarifications requested by the BSE Limited and the National Stock Exchange of India Limited. The revised details pertain to Item No. 1 of the EGM Notice regarding the issuance of up to 34,00,000 warrants. Specific amendments are outlined in Annexures A and B.
Updated Shareholding Pattern
The company has provided an updated shareholding pattern, reflecting both the pre- and post-preferential issue scenarios. The pre-issue shareholding of Promoter and Promoter Group stands at 7,80,69,606 shares (43.13%), which is projected to increase to 8,24,44,606 shares (44.47%) post-issue. The details are presented in Annexure A, indicating changes across various investor categories.
Key Institutional Holdings
As per the provided data, Mutual Funds hold 17,53,356 shares (0.95%), while Alternative Investment Funds possess 26,39,611 shares (1.42%). Foreign Portfolio Investors (FPIs) Category I have a significant stake with 3,56,78,697 shares (19.24%). The total public shareholding is 10,27,39,473, representing 55.41% of the company.
Utilization of Issue Proceeds
The company intends to allocate ₹149.94 Crores towards debt repayment and ₹49.98 Crores for general corporate purposes. The total estimated utilization of issue proceeds is ₹199.92 Crores, expected to be implemented within a maximum period of 24 months from the receipt of funds. Further details are included in Annexure B.
Source: BSE
