POCL Enterprises Acquires Stake in PlanetFirst
By Ankur Chandra | Published at: Jun 19, 2025 11:36 AM IST
Chennai, June 19, 2025 – POCL Enterprises Ltd (BSE: 539195) has acquired stake in PlanetFirst. It acquired 40% in equity stake in PlanetFirst and subscribed to 85% of its preference shares for a total consideration of Rs 19 crore.
Equity and Warrant Allotment: ₹69.66 Crore Mobilized via Preferential Issue
The Board has successfully given out equity shares and convertible warrants in accordance with Chapter V of the SEBI ICDR Regulations, 2018. This was done after the members approved it at the Extraordinary General Meeting (EGM) on April 28, 2025, and the BSE gave its in-principle approval on June 4, 2025.
Allotment Details
| Instrument | Quantity Allotted | Issue Price (₹) | Amount Raised (₹ Cr) | Allottees |
|---|---|---|---|---|
| Equity Shares | 28,86,123 | 202 | 58.30 | 60 investors including promoters |
| Convertible Warrants | 5,62,782 | 202 | 11.37* | 17 investors including promoters |
*25% of total ₹45.47 Cr payable was received upfront; balance due on conversion within 18 months.
The issue and allotment price of ₹202 includes a ₹200 premium and is compliant with SEBI pricing norms.
Key Allottee Breakdown (Equity Shares)
| Name | Category | Shares Allotted | Value (₹) |
|---|---|---|---|
| Neelam Bansal | Promoter Group | 1,48,515 | 3.00 Cr |
| Rajiv Khanna | Non-Promoter | 1,48,515 | 3.00 Cr |
| Ravinder Kumar Rishabchand | Non-Promoter | 2,47,525 | 5.00 Cr |
| Antara India Evergreen Fund Ltd | Non-Promoter | 74,258 | 1.50 Cr |
All shares and warrants are subject to lock-in as per SEBI guidelines.
PlanetFirst Green Acquisition: ₹19 Cr Investment for 40% Stake
The Board also approved a strategic investment in Surat-based PlanetFirst Green Pvt Ltd, a lead recycling company with FY25 provisional turnover of ₹79.43 crore.
Acquisition Structure
| Instrument | Stake Acquired | Shares | Consideration (₹) |
|---|---|---|---|
| Equity Shares (Face Value ₹10) | 40% | 20,00,000 | ₹2.00 Cr |
| Non-cumulative Non-Convertible Preference Shares (NCRPS, FV ₹10 @ ₹8) | 85% | 2,12,50,000 | ₹17.00 Cr |
Total Investment: ₹19.00 Cr (Cash Transaction)
The acquisition is expected to close on or before June 30, 2025, post which PlanetFirst will become an associate company of POCL.
“The lead recycling acquisition aligns with our strategy to grow market share and improve resource efficiency,” the company stated.
Leadership Strengthening: Nupur Bansal Appointed President – Business Development
Effective today June 19, 2025, Mrs. Nupur Bansal will join POCL as President – Business Development & Senior Management Personnel (SMP). A seasoned retail strategist with a proven track record, Mrs. Bansal played a pivotal role in the remarkable growth of the “Basics” brand at Hasbro Clothing, driving its revenue to ₹300 crore and successfully overseeing the launch of 60 stores across Chennai.
She is closely related to Directors Mr. Sunil Kumar Bansal and Mr. Harsh Bansal, and is an integral member of the company’s promoter group.
Regulatory References
- Preferential Issue: Chapter V, SEBI (ICDR) Regulations, 2018
- Disclosure Compliance: Regulation 30, Schedule III of SEBI (LODR) Regulations, 2015
- SEBI Master Circular: SEBI/HO/CFD/PoD2/CIR/P/0155 dated Nov 11, 2024
About the Company
POCL Enterprises Ltd is a listed entity engaged in manufacturing and trading of non-ferrous metals and chemicals. It is listed on BSE under the scrip code 539195. The company is actively expanding its green initiatives and capital base through strategic investments and private placements.
REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/5a5f8a62-2866-4ada-a791-073fcef406b1.pdf
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