Euro India Fresh Foods Limited has scheduled an Extraordinary General Meeting (EGM) on July 17, 2026, to seek shareholder approval for raising up to ₹98.98 crore through a preferential issue of equity shares and convertible warrants. The company intends to issue 21,10,000 fully paid-up equity shares and 19,30,000 convertible warrants at a price of ₹245 per security, which includes a premium of ₹235 per share. The issue aims to bolster the company's capital structure and support strategic initiatives including debt repayment and working capital requirements.

Preferential Allotment Details

The Board of Directors, at its meeting held on June 19, 2026, approved the proposal to allot securities on a private placement basis. The equity shares, amounting to ₹51.69 crore, will be issued exclusively to non-promoter categories. The convertible warrants, aggregating ₹47.28 crore, will be allotted to both promoter group and non-promoter categories. The warrants are convertible into equity shares within 18 months from the date of allotment, with 25% of the consideration payable upfront and the balance due upon conversion.

Fund Utilisation Plan

The company plans to deploy the net proceeds of ₹98.98 crore towards specific operational and financial objectives. The largest allocation, amounting to ₹43 crore or 43.44% of the total proceeds, is designated for the repayment of bank term loans and cash credit facilities. Additionally, ₹35 crore has been earmarked for working capital requirements, while ₹3.5 crore each will be directed towards the purchase of new plant and machinery and marketing and advertising activities. The remaining ₹13.98 crore will be utilized for general corporate purposes.

Pricing and Regulatory Compliance

The issue price of ₹245 per security was determined in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The price is higher than the floor price, calculated as the higher of the 90-day or 10-day volume weighted average price (VWAP) preceding the relevant date of June 17, 2026. The 90-day VWAP was ₹234.64, and the 10-day VWAP was ₹233.38. As the issue size does not exceed ₹100 crore, the company is not required to appoint a monitoring agency for the utilization of proceeds.

Meeting and Voting Details

The EGM will be held via video conferencing on July 17, 2026, at 12:30 p.m. IST. Remote e-voting will commence at 9:00 a.m. on July 14, 2026, and conclude at 5:00 p.m. on July 16, 2026. M/s. Dhiren R. Dave & Co., Practicing Company Secretaries, has been appointed as the scrutinizer to oversee the e-voting process. The company has also sought approval to increase the authorised share capital from ₹25 crore to ₹30 crore to facilitate the proposed issuance.

Euro India Fresh Foods disclosed the non-encumbrance of shares held by its promoters for the financial year ended March 31, 2026. The filing confirms that the promoter group collectively holds 73.51% of the total equity shares, representing a significant majority stake in the company. This disclosure ensures that the shares held by the promoters are free from any encumbrance, providing clarity to shareholders regarding the ownership structure.

Manhar Jivanbhai Sanspara holds the largest individual stake within the promoter group, owning 8,461,098 shares, which accounts for 34.12% of the total share capital. Dinesh Jivanbhai Sanspara follows closely with 8,217,700 shares, translating to a 33.14% holding. Maheshkumar Vallabhbhai Mavani holds 1,440,000 shares, constituting 5.81% of the total shares. The remaining promoter group members, including Sapnaben Manharbhai Sanspara, Maya Dineshbhai Sanspara, and Dipesh Dinesh Sanspara, hold smaller stakes ranging from 0.04% to 0.20%.

The detailed shareholding pattern highlights the concentration of ownership among the key promoters. Several entities within the promoter's group, such as Euro Nextech Private Limited, Miloni Lgd Private Limited, and J R Roadways LLP, reported zero shareholding during this period. The total promoter and promoter group shareholding stands at 18,228,798 shares, reinforcing their controlling interest in the company.

Promoter Shareholding Details