LDLeo Dryfruits & Spices Trading544329Preferential allotment

Board approves fresh ₹42 crore warrant issue, discontinues earlier ₹55-per-warrant proposal

Board meeting outcome (Oct 16, 2026): the earlier proposal to issue up to 70 lakh Fully Convertible Warrants at ₹55/- each has been discontinued — no in-principle application was made.

By ScoutQuest · Fri 16 Oct 2026, 5:42 PM IST · 4 min read

Fresh Preferential Issue Size

up to ₹42,00,00,000/-

Warrants Approved

up to 70 lakh Fully Convertible Warrants at ₹60/- each

Number of Allottees

Nine (9)

What the Board approved

• The Board has approved the discontinuation of the earlier proposal for the issue of up to 70 lakh Fully Convertible Warrants at an issue price of ₹55/- per Warrant on a preferential basis, approved by the Board at its meeting held on August 08, 2026 and by the Members by way of a Special Resolution passed at the Extraordinary General Meeting held on September 04, 2026.
• In respect of that earlier proposal, no application for in-principle approval was made to BSE Limited, no Warrants were allotted and no subscription money was received. The Board resolution dated August 08, 2026 and the Special Resolution dated September 04, 2026 relating to the earlier proposal shall not be acted upon and stand superseded by the fresh proposal.
• The Board has approved raising of funds by way of a fresh preferential issue of up to 70 lakh (Seventy Lakh) Fully Convertible Warrants on a preferential basis to proposed allottees belonging to the Public (Non-Promoter) category, subject to the approval of the Members and such statutory, regulatory and other approvals as may be required, including the in-principle approval of BSE Limited.

Terms of the fresh issue

• Each Warrant carries an entitlement to subscribe to and be allotted one (1) fully paid-up Equity Share of the Company having a face value of ₹10/- each, at an issue price of ₹60/- per Warrant.
• Aggregate amount: up to ₹42,00,00,000/- (Rupees Forty-Two Crore only).
• The issue price of ₹60/- per Warrant includes a premium of ₹50/-.
• The Relevant Date for determination of the floor price is October 15, 2026. The floor price is ₹59.36/-, being the higher of the Ninety Trading Day Volume Weighted Average Price preceding the relevant date of Rs 58.20 and the Ten Trading Day Volume Weighted Average Price preceding the relevant date of Rs 59.36. The price as per the valuation report dated October 15, 2026 issued by the Registered Valuer is ₹53.45/-.
• Amount payable on allotment: at least 25% of the issue price, i.e. ₹15/- per Warrant. Balance 75%, i.e. ₹45/- per Warrant, at the time of exercise.
• Tenure and conversion: each Warrant is convertible into one Equity Share at the option of the holder, in one or more tranches, within 18 (Eighteen) months from the date of allotment. If not exercised, the Warrants lapse and the amount paid stands forfeited.
• Number of proposed allottees: Nine (9).

Use of the money raised

• Working capital requirements: ₹36,00,00,000/-.
• General corporate purposes: ₹6,00,00,000/-.
• Total: ₹42,00,00,000/-. The proceeds are proposed to be utilised within 24 months from the date of allotment of the Warrants, in one or more tranches, as and when the funds are received.

Who the allottees are

• All nine (9) proposed allottees belong to the Public (Non-Promoter) category; none of them is a related party of the Company.
• Largest proposed subscriptions: Jignesh Jaswantrai Mehta 20,00,000 Warrants for ₹12,00,00,000 (post-issue 8.03%), Shree Ram Realities 16,00,000 Warrants for ₹9,60,00,000 (post-issue 6.44%), Ami Niraj Shah 10,00,000 Warrants for ₹6,00,00,000 (post-issue 6.83%), Dhanlaxmi J Mehta and Nisha Jignesh Mehta 9,00,000 Warrants each for ₹5,40,00,000 each (post-issue 3.62% each).
• Total across allottees: 70 lakh Warrants for ₹42,00,00,000.

Lock-in and other conditions

• The Warrants and the Equity Shares allotted on exercise shall be locked in for six (6) months from the date of trading approval, and the entire pre-preferential shareholding of the allottees shall be locked in from the Relevant Date up to ninety (90) trading days from the date of trading approval.
• The Equity Shares so allotted shall rank pari passu in all respects with the existing Equity Shares.
• The proposed preferential issue shall not result in any change in the management or control of the Company.
• Post-issue fully diluted share capital, assuming exercise of all the Warrants: ~2.49 crore Equity Shares.

Next steps

• The Board approved convening an Extraordinary General Meeting of the Members through Video Conferencing / Other Audio Visual Means to seek their approval for the preferential issue, and approved the draft Notice of the EGM.
• Mr. Ritul Parmar (Membership No. F13125), Proprietor of M/s. Ritul Parmar & Associates, Practising Company Secretaries, has been appointed as the Scrutinizer for the e-voting process.
• Allotment shall be completed within fifteen (15) days from the date of passing of the Special Resolution or, where any regulatory approval is pending, within fifteen (15) days from the date of such approval.
• The Meeting of the Board of Directors commenced at 4.30 p.m. and concluded at 4.45 p.m.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

About ScoutQuest · Logos provided by Logo.dev