This is to inform that Board of Directors in their meeting held today has allotted 21,00,000 Convertible Warrants to Non Promoters pursuant to preferential allotment and subject to In-principle ....
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On the reaction day the stock moved 1.8 pts more than Nifty Microcap 250 and 1.5 pts less than its Film Production, Distribution & Exhibition peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Orient Tradelink Ltd's Board of Directors, at a meeting held today, approved the allotment of 21 lakh (21,00,000) Convertible Warrants to Non-Promoter entities under a preferential allotment route. The warrants are convertible into equity shares of the company, subject to the receipt of in-principle approval from the stock exchange. The move will lead to dilution of existing promoter holding once these warrants are eventually converted into shares. No pricing details or names of the allottees have been disclosed in this filing.
This is a capital-raising move through preferential warrants, which signals equity dilution for existing shareholders in the future. Short-term stock price may react to the size of the issue and identity of the allottees, once disclosed.