Akme Fintrade (India) Limited has informed the exchange regarding ''In-principle'' approval received from National Stock Exchange of India Limited and BSE Limited for Issue of 12,25,00,000 ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Akme Fintrade (India) Limited has received in-principle approval from both NSE and BSE for issuing 12,25,00,000 warrants on a preferential basis. Each warrant can be converted into 1 equity share of face value Re. 1 at a minimum price of Rs. 7 per share. The warrants are being issued to both Promoters and Non-Promoters. The exchanges have advised the company to strengthen internal controls to monitor trading by proposed allottees before allotment to avoid contravention of SEBI ICDR Regulations. The company must file a listing application within 20 days from the date of allotment and ensure compliance with all applicable regulations.
This preferential warrant issue will dilute existing shareholder equity. The Rs. 7 floor price for conversion suggests the current market price is likely above this level. The inclusion of non-promoters indicates institutional or public participation, which could bring fresh capital but will dilute existing shareholding.