Amic Forging Ltd Approves Allotment of 8 Lakh Shares and Appoints New Non-Executive Director
The Board of Directors of Amic Forging Ltd held a meeting on Monday, April 20, 2026, approving significant business matters, including the allotment of 8,00,000 equity shares through the conversion of warrants and the appointment of a new Non-Executive Non-Independent Director.Allotment of Equity Shares via Warrant Conversion
The Board approved the allotment of 8,00,000 equity shares, each having a face value of Rs. 10/-, at an issue price of Rs. 1211/- per share (including premium). This allotment is made pursuant to the conversion of 8,00,000 convertible warrants previously issued to the company.The process involved two stages of consideration receipt. Initially, the allotment was related to 8,00,000 warrants originally issued at an issue price of Rs. 1211/- each. The Board confirmed the allotment upon receiving the balance 75% of the consideration amount from the warrant holders, as per the terms of issue.
Furthermore, the Board approved the allotment of equity shares to a new allottee, following the transfer of 55,000 warrants by an existing warrant holder.
Upon the completion of the conversion and allotment, the paid-up capital of the company is set to increase substantially:
| Metric | Before Allotment | After Allotment |
|---|---|---|
| Paid-up Capital | Rs. 10,74,88,350/- | Rs. 11,54,88,350/- |
| Total Equity Shares | 1,07,48,835 equity shares | 1,15,48,835 equity shares |
| Face Value per Share | Rs. 10/- | Rs. 10/- |
The new equity shares so allotted will rank pari-passu with the existing equity shares of the Company. Amic Forging Ltd is expected to make necessary applications for the listing and trading of these new equity shares at the BSE Limited.
Director Appointment Details
In addition to the capital restructuring, the Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Vijay Chopra as an Additional Director. Mr. Chopra will serve as a Non-Executive Non-Independent Director with effect from April 20, 2026. His appointment is subject to the approval of the shareholders and other applicable requirements, and he will be liable to retire by rotation.Mr. Vijay Chopra is noted as a capital market veteran and an IIFT Alumnus. He brings over 28 years of experience and an embellished track record across capital markets, investment banking, fund raising, strategy, investor relations, and corporate communications. His experience includes serving in roles like CIO (Investments) Investment Banking divisions for Fullerton India, a wholly owned subsidiary of Temasek Holdings. Mr. Chopra has also been awarded the Best Fundamental Analyst award by Zee Business.
Stock Price Movement
Amic Forging Ltd shares settled at ₹1554.60 today, declining by 1.68% at the close of trade. The equity traded throughout the day, dipping to a low of ₹1540.00 after peaking at ₹1595.90.Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.