Madhav Infra Projects Approves 8.84 Crore Promoter Preferential Issue At Rs 8.15

Board approved converting 3.79Cr redeemable preference shares into 4.65Cr CCPS into equal equity at Rs8.15 to Waa Solar and 4.19Cr equity at Rs8.15 on four-entity promoter loan conversion. No cash raise; converts existing preference and loans into equity for promoter group only. Extends related-party funding loop via Waa Solar and same corridor SPVs used in prior swaps. Cuts redemption and debt overhang but dilutes public holders heavily. Subject to postal-ballot and regulatory approvals; CCPS convertible within 18 months.