RSWM Ltd Board Approves Preferential Issue of Convertible Warrants to Promoter Group
RSWM Ltd, the company, announced that its Board of Directors, in a meeting held on April 9, 2026, approved raising funds through the preferential issuance of fresh convertible warrants. This action, subject to shareholder and regulatory approvals, is intended for the Promoter/Promoter Group.The Board approved raising funds up to the tune of INR 36.06 Crore by issuing up to 24,70,000 convertible warrants. These warrants are convertible into an equivalent number of equity shares, each having a face value of Rs. 10. The issue price for the warrants has been set at Rs. 146, which includes a premium of Rs. 136.
The proposed allotment details are as follows:
| Sr. No. | Name of Proposed Allottee | Category |
|---|---|---|
| 1 | LNJ Textiles Advisory LLP | Promoter Group |
The allotment details confirm that LNJ Textiles Advisory LLP, belonging to the Promoter Group, is slated to receive up to 24,70,000 warrants, which represent a maximum post preferential percentage of 4.98% on a fully diluted basis, assuming full conversion of warrants.
Approval for Extraordinary General Meeting
In addition to the capital raise, the Board also approved the convening of an Extraordinary General Meeting (EGM) of the Company. This EGM is scheduled for Friday, May 8, 2026, to seek shareholder approval for the preferential issue.The Board fixed April 10, 2026, as the cut-off date for determining shareholder eligibility for receiving the EGM Notice along with e-Voting details. Mr. Mahesh Gupta & Co., Practicing Company Secretaries, were appointed as the Scrutinizer to manage the e-voting process for the EGM.
Convertible Warrants Details
Each warrant is convertible into one equity share. The conversion option can be exercised at any time within a period of 18 months from the date of warrant allotment, in one or more tranches. Option for conversion requires the payment of the full price of the warrant before exercising the option.The details of the securities issuance are summarized below:
| Particulars | Details |
|---|---|
| Type of securities proposed to be issued | Convertible Warrants |
| Type of Issuance | Preferential Issue |
| Total securities proposed to be issued | Up to 24,70,000 convertible warrants convertible in to equivalent number of equity shares of face value of Rs. 10/- each, at a price of Rs. 146/- per share including premium of Rs. 136/- |
The board meeting commenced at 03:00 p.m. (IST) and concluded at 03:45 p.m. (IST).
RSWM Stock Price Movement
Today, shares of RSWM Limited edged higher to close at ₹140.97, up 1.76% in trading. The stock saw robust trading volume today, recording 35,429 shares traded.Source:
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