Promoter loan of Rs 21 cr to convert into 10.94 lakh warrants

Fund Raising View source PDF Explain this filing

AFFORDABLE · price

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Price reactionminutes from the announcement price · days from the prior close

-5.7%Reaction day

₹203.00

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-6.3% vs market

On the reaction day the stock moved 6.3 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

-5.7+0.6-6.3

Next day

-3.3+0.9-4.2

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UpDownMarket · Nifty Microcap 250Pending

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AI summary

Board approved issuing 10,93,750 fully convertible warrants to promoter Mr. Milind Padole at Rs 192 each against conversion of his outstanding Rs 21 crore loan. Price includes Rs 182 premium over Rs 10 face value. Each warrant converts into one equity share within 18 months. Promoter holding stays at 27.74% now but rises to 33.84% on full conversion. Postal ballot notice approved for shareholder nod.

Likely market impact

Loan-to-equity swap cuts company debt but will dilute non-promoter holders by around 8% if warrants fully convert. No fresh cash inflow.