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The board of Som Distilleries & Breweries will convene a meeting on 8 July 2023 at their corporate office in Bhopal, Madhya Pradesh. The primary agenda of the meeting is to discuss and decide on fund raising activities to meet the company's capital expenditure and working capital requirements. The board aims to address these financial needs through the issuance of convertible equity warrants on a preferential basis to the promoters, promoters group, and prospective investors.
In addition to the fund raising discussions, the board will also finalize the date, time, and venue for an Extraordinary General Meeting (EGM) and approve the final notice to be sent to the shareholders. The EGM will be an opportunity for the company to communicate important matters and seek the approval of its shareholders.
Any other matters requiring the approval of the chairperson will also be considered during the board meeting.
Som Distilleries and Breweries is primarily engaged in brewing, fermentation, bottling, canning and blending of beer and Indian Made Foreign Liquor (IMFL). It also supplies draught beer from its plants.
On a consolidated basis, Som Distilleries & Breweries' net profit rose 148.36% to Rs 15.87 crore on 73.23% increase in net sales to Rs 252.57 crore in Q4 March 2023 over Q4 March 2022.
Shares of Som Distilleries & Breweries surged 6.62% to Rs 292.40 on Tuesday, 4 July 2023.
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