Issuance of 20,00,000 (Twenty Lakhs Only) Convertible Warrants on a preferential basis at a price of Rs. 50 per warrant.
Price
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Adhata Global Limited is issuing 20 lakh convertible warrants at Rs. 50 each, raising up to Rs. 10 crore on a preferential basis. Each warrant can be converted into one equity share of Rs. 10 face value (with a Rs. 40 premium) within 18 months of allotment. The warrants will be allotted to 7 proposed allottees, including two promoter-group entities (M.V. Credit Capital Pvt Ltd and VNS Projects LLP, taking 7.5 lakh warrants each) and 5 non-promoter individuals (1 lakh each). The price of Rs. 50 was determined based on a valuation report by Omnifin Valuation Services, since the stock is classified as infrequently traded under SEBI ICDR regulations. Post-issue promoter shareholding will remain at 75%, with total equity expanding from 47.15 lakh to 67.15 lakh shares on full conversion. The funds will be used for business expansion (Rs. 2 crore), working capital (Rs. 6 crore), and general corporate purposes (Rs. 2 crore).
This is a dilution event — non-promoter shareholding percentage will drop from 25% to 25% in absolute count but to a lower share of expanded equity, effectively diluting minority holders by around 42% on full conversion. Existing shareholders should note potential EPS dilution and that promoter entities are anchoring the issue, signalling internal confidence but also entrenching promoter control.