BSE in-principle nod for 6 crore convertible warrants
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved in line with its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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BSE granted in-principle approval for issuing 6 crore convertible warrants to non-promoter entities on a preferential basis. Each warrant has a face value of Re 1, converts into one equity share of Re 1, and will be issued at no less than Rs 164 per share. Final issue and listing still require the stated approvals and formalities.
At the minimum price, the issue could raise Rs 984 crore. Conversion would add 6 crore shares, increasing ownership dilution for current holders.