Amic Forging Limited, a prominent player in the forging industry, has announced a significant move to bolster its financial position. The company's Board of Directors has given the green light to raise funds up to Rs. 50.00 crores through a Qualified Institutional Placement (QIP) of equity shares and other eligible securities.

Board Meeting Details

The decision was made during a board meeting held on September 24, which commenced at 6:35 PM and concluded at 7:15 PM. This strategic move is subject to shareholder and regulatory approvals, highlighting the company's commitment to transparency and compliance with regulatory requirements.

Fundraising Specifics

According to the company's disclosure, the fundraising will involve the issuance of:

• Equity shares with a face value of Rs. 10.00 each
• Other convertible securities (including warrants)
• Or a combination thereof

The securities will be issued in one or more tranches, providing flexibility in the fundraising process. The maximum amount to be raised is set at Rs. 50.00 crores, inclusive of any premium that may be fixed on the securities.

Regulatory Compliance

The QIP will be conducted in accordance with Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Additionally, it will comply with Section 42 and other applicable provisions of the Companies Act, 2013, ensuring adherence to all relevant legal frameworks.

Next Steps

To move forward with this initiative, Amic Forging Limited will be taking the following steps:

1. Seeking shareholder approval through a postal ballot
2. Obtaining necessary regulatory and statutory approvals

Market Implications

This fundraising initiative through QIP suggests that Amic Forging Limited is looking to strengthen its capital base, which could potentially be used for various purposes such as expansion, debt reduction, or working capital requirements. The move may also indicate the company's positive outlook on its growth prospects and its ability to attract institutional investors.

Investors and market watchers will be keenly observing the outcome of the shareholder approval process and the subsequent execution of the QIP, as it could have significant implications for the company's financial structure and future growth strategies.

Stakeholders are advised to keep an eye on further announcements from Amic Forging Limited for additional information on this significant financial move.

Amic Forging Limited has announced significant changes to its leadership team, as approved by the company's Board of Directors during a meeting held on September 22, 2025.

New Addition to the Board

The Board has approved the appointment of S. Subrahmanyan as an Additional Director (Non-Executive) of the company, effective October 3, 2025. This appointment is subject to shareholder approval.

Subrahmanyan brings a wealth of experience to Amic Forging Limited. He is a graduate in Mechanical Engineering from the College of Engineering, Guindy, Chennai, and holds a post-graduate degree in Aircraft Production Engineering from IIT Madras. His career in the aerospace industry spans over four decades, beginning with his joining Hindustan Aeronautics Limited (HAL) as a Management Trainee in August 1980.

Throughout his tenure at HAL, Subrahmanyan worked across various complexes, including the Helicopter Complex, MiG Complex, Bangalore Complex, and the Corporate Office. He served on HAL's board until his superannuation in 2017. Since then, Subrahmanyan has been actively involved in the private aerospace sector, serving as an independent director and advisory board member for various industries.

Changes in Financial Leadership

In a separate development, Anshul Chamaria, who currently serves as both Whole-time Director and Chief Financial Officer (CFO) of Amic Forging Limited, has decided to step down from his role as CFO. His resignation from the CFO position will be effective from the close of business hours on October 31, 2025.

The company stated that Chamaria's decision to resign from the CFO role is driven by his desire to devote greater focus and attention towards his responsibilities and strategic initiatives as a Whole-Time Director of the company. Despite relinquishing his financial leadership role, Chamaria will continue to serve as a Whole-time Director on the company's board.

Board Meeting Details

The Board meeting where these decisions were made commenced at 15:15 (IST) and concluded at 15:45 (IST) on September 22, 2025. The company has duly informed the BSE Limited about these changes, in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

These leadership changes come at a time when Amic Forging Limited appears to be focusing on strengthening its board with diverse expertise and allowing its executives to specialize in specific roles. The addition of Subrahmanyan's aerospace experience and the refocusing of Chamaria's responsibilities suggest a strategic shift that may influence the company's future direction and operations.