Board approves warrant conversions, auditor changes, and higher borrowing cap

Warrants ConvertedFund Raising View source PDF

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₹10.36

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AI summary

Akme Fintrade board approved converting warrants into 1.3 crore equity shares, raising about Rs. 7.75 crore. Pushpa Jugraj Jain got 30 lakh shares at Rs. 11.10; Stellant Securities got 1 crore at Rs. 7. Authorised capital hiked from Rs. 50 crore to Rs. 60 crore. Borrowing limit raised to Rs. 1,200 crore. Internal auditor Latika Jain resigned; Ankita Jain appointed. Shyam S. Gupta recommended as new statutory auditor.

Likely market impact

Minor dilution from 1.3 crore new shares. Borrowing cap raised to Rs. 1,200 crore signals expansion. Changes need shareholder approval.