Receipt of In Principle approval under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements), Regulation , 2015 to Issue share warrant to promoters and non promoters ....
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Awaiting price reaction for this filing.
Active Clothing Co Ltd has received BSE's in-principle approval to issue 20 lakh convertible warrants on a preferential basis at Rs. 115 per warrant, raising up to Rs. 23 crore in total. Each warrant can be converted into 1 equity share of Rs. 10 face value at a premium of Rs. 105, within 18 months of allotment. The warrants will be allotted to both promoter and non-promoter groups. BSE has cautioned the company to strengthen internal controls and obtain undertakings from allottees to prevent any non-compliant trading ahead of allotment.
This fund raise of up to Rs. 23 crore will dilute existing shareholders when warrants are eventually converted into equity shares over the next 18 months. The stock may see short-term pressure due to potential equity dilution, though the capital infusion could support business growth if deployed productively.