Raj Oil Mills Approved Name Change and Allots Equity Shares and Warrants
The Board of Directors of Raj Oil Mills Limited approved significant corporate changes, including a potential name change and the allotment of equity shares and warrants through preferential offers.The Company reviewed and sanctioned the change of its name from 'Raj Oil Mills Limited' to 'Raj Industries Limited'. This proposed change remains subject to approval by members in a general meeting and subsequent amendments to the Memorandum and Articles of Association, following approval by the Central Registration Centre (CRC) of the Ministry of Corporate Affairs.
Preferential Allotment Details
The Board of Directors also approved the allotment of equity shares and warrants following approvals granted by BSE Limited and National Stock Exchange of India Limited on July 17, 2026.Equity Share Allotment:
A total of 10,00,000 equity shares were allotted on a preferential basis to various persons listed in Annexure A. The face value of the shares is Rs. 10/- each, and the issue price was set at Rs. 46/- per Equity Share, which includes a share premium of Rs. 36/-.
The total amount raised from this allotment stood at Rs. 4,60,00,000 (Rupees Four Crore Sixty Lakh only).
Details of the equity share allottees are provided in the table below:
| Sr. No. | Name of the Proposed Allottees | Category | Nos. of Equity Shares allotted | Issue Price | Amount Raised (Rs.) |
|---|---|---|---|---|---|
| 1. | Ashfaque Ahmad | Non-Promoter | 5,00,000 | 46 | 2,30,00,000 |
| 2. | Mohammed Wahid Mukhtar Ahmed Shaikh | Non-Promoter | 1,00,000 | 46 | 46,00,000 |
| 3. | Shifa Sameer Khorajia | Non-Promoter | 1,00,000 | 46 | 46,00,000 |
| 4. | Mohammed Rizwan Abdul Razzak Khanji | Non-Promoter | 1,00,000 | 46 | 46,00,000 |
| 5. | Glassil Industries LLP | Non-Promoter | 1,00,000 | 46 | 46,00,000 |
| 6. | Shoaib Shakir Nuri | Non-Promoter | 1,00,000 | 46 | 46,00,000 |
| Total | 10,00,000 | 4,60,00,000 |
Warrant Allotment:
Simultaneously, 10,00,000 warrants were allotted to persons listed in Annexure B. Each warrant was convertible into or exchangeable for one fully paid-up Equity Share of the Company (face value Rs. 10/-) at a price of Rs. 46/, including a premium of Rs. 36/.
The upfront subscription price for each warrant was fixed at Rs. 11.50, constituting 25% of the issue price per Warrant. The total amount raised from this allotment is Rs. 1,15,00,000 (Rupees One Crore Fifteen Lakh only).
Details of the warrant allottees are as follows:
| Sr. No. | Name of Allottees | Category | Nos. of Warrants allotted | Subscription Amount (Rs. 11.50) | Amount Raised (Rs.) |
|---|---|---|---|---|---|
| 1. | Mohammed Ashraf Mohammed Asgar Shaikh | Non-Promoter | 5,00,000 | 11.50 | 57,50,000 |
| 2. | Mohammed Wahid Mukhtar Ahmed Shaikh | Non-Promoter | 1,00,000 | 11.50 | 11,50,000 |
| 3. | Shifa Sameer Khorajia | Non-Promoter | 1,00,000 | 11.50 | 11,50,000 |
| 4. | Mohammed Rizwan Abdul Razzak Khanji | Non-Promoter | 1,00,000 | 11.50 | 11,50,000 |
| 5. | Glassil Industries LLP | Non-Promoter | 1,00,000 | 11.50 | 11,50,000 |
| 6. | Shoaib Shakir Nuri | Non-Promoter | 1,00,000 | 11.50 | 11,50,000 |
| Total | 10,00,000 | 1,15,00,000 |
Each warrant allotted is convertible into or exchangeable for one fully paid-up Equity Share within 18 months from the allotment date. The remaining balance consideration of Rs. 34.50 per Warrant (75% of the issue price) will be due upon exercise of the conversion option by the allottees.
Capital Restructuring and Next Steps
The issuance of equity shares has resulted in an increase in the issued, subscribed and paid-up equity share capital of the Company. The capital increased from Rs. 14,98,86,840 to Rs. 15,98,86,840.The Company plans to apply for listing and trading approval for these newly issued Equity Shares in due course.
ROML Stock Price Movement
Today, shares of Raj Oil Mills Limited edged higher, successfully closing at ₹44.98 after gaining 1.10%. The equity traded within a range defined by a low of ₹44.07 before finishing the session on a total volume of 1,122 shares.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.
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