Date: 10.09.2026
Board Meeting Outcomes
The Board of Directors of Madhya Bharat Agro Products Ltd, in its meeting dated September 10, 2026, approved the restructuring of utilization of proceeds from the preferential issue of equity shares due to undersubscription by certain proposed allottees.
Fundraising / Financing
Restructured Utilization of Preferential Issue Proceeds:
Previous Allocation:
- Capital expenditure for new manufacturing facility at Dhule, Maharashtra: ₹50,00,00,000 (Fifty Crores Only)
- Working capital requirements: ₹192,47,75,000 (One Hundred and Ninety Two Crores Forty Seven Lakhs Seventy Five Thousand Only)
- General corporate purposes: ₹75,00,00,000 (Seventy-five Crores Only)
- Total: ₹317,47,75,000 (Three Hundred Seventeen Crores Forty Seven Lakhs Seventy Five Thousand Only)
Restructured Allocation:
- Capital expenditure for new manufacturing facility at Dhule, Maharashtra: ₹33,00,60,000 (Thirty Three Crores and Sixty Thousand Only) - Reduced by ₹16,99,40,000
- Working capital requirements: ₹192,47,75,000 (One Hundred and Ninety Two Crores Forty Seven Lakhs Seventy Five Thousand Only) - Unchanged
- General corporate purposes: ₹75,00,00,000 (Seventy-five Crores Only) - Unchanged
- Total: ₹300,48,35,000 (Three Hundred Crores Forty Eight Lakhs Thirty Five Thousand Only)
Reason for Restructuring: The reduction in total proceeds from ₹317.4775 crore to ₹300.4835 crore was due to undersubscription of equity shares offered to few investors, specifically affecting the capital expenditure allocation for the new manufacturing facility in Dhule, Maharashtra.
Other Operational / Legal / Strategic Disclosures
The company has communicated this restructuring to the National Stock Exchange of India Ltd for information and records.