Announced Fri, 17 Jul · 19:03 IST
Promoter loan of Rs 21 cr to convert into 10.94 lakh warrants
Fund Raising View source PDF
AFFORDABLE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-3.3%1-day move
₹203.00
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-3.3-7.4-8.4-8.9-8.7—————
Up moveDown movePending
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.