Akme Fintrade (India) Limited has informed the Exchange about General Updates
AFIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.6 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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Akme Fintrade has received in-principle approval from both NSE and BSE for issuing 122.5 million warrants on a preferential basis. Each warrant will convert into 1 equity share of Rs. 1/- face value at a minimum price of Rs. 7/-, to be allotted to both Promoter and Non-Promoter entities. Both exchanges have conditionally approved the issue, requiring the company to strengthen internal controls to monitor allottees' trading activity before allotment, and to obtain undertakings that allottees will not do intra-day trading till the securities are allotted. The company must file a listing application within 20 days of allotment and comply with SEBI ICDR Regulations, Companies Act, and other applicable laws.
This is a dilutive equity issuance via warrant conversion to Promoters and Non-Promoters at Rs. 7 per share. The minimum issue price provides a reference floor. Existing shareholders should note the potential share count increase upon full conversion of these warrants.