Ramkrishna Forgings proposes ₹199.92 crore preferential warrant issue

Ramkrishna Forgings Limited will hold an extraordinary general meeting (EGM) on Friday, December 12, 2025, to seek shareholder approval for a preferential issue of up to 3,400,000 fully convertible warrants. Each warrant, priced at ₹588, will be convertible into one equity share of face value ₹2. The aggregate amount intended to be raised is ₹199.92 crore, with the issuance proposed to Mr. Chaitanya Jalan, a promoter of the company.

The company plans to utilize the proceeds from this issue primarily for debt repayment, allocating up to ₹149.94 crore for outstanding borrowings. Additionally, up to 25% of the issue proceeds, or ₹49.98 crore, will be used for general corporate purposes. The EGM will be conducted virtually via video conferencing/other audio-visual means.

The warrants will be subject to a lock-in period as per SEBI ICDR regulations, and 25% of the issue price must be paid on the allotment date, with the balance due upon conversion within 18 months. India Ratings & Research Private Limited has been appointed as the monitoring agency for the utilization of these proceeds.