Pursuant to the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors, in its meeting held today i.e., ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved allotment of 97,53,750 fully paid-up equity shares to non-promoter allottees (105 investors) at Rs. 40 per share (face value Rs. 10 + premium Rs. 30), raising approximately Rs. 39.02 crores on a preferential basis under SEBI ICDR regulations. As a result, the paid-up equity share capital rises from Rs. 16.97 crores (1.69 crore shares) to Rs. 26.72 crores (2.67 crore shares), a ~57.5% jump in the share count. Separately, the board allotted 1,18,00,000 convertible warrants to the promoter group (Eswara Rao Nandam, Uma Nandam, and Vishaal Nandam) at Rs. 40 per warrant, with 25% upfront and the balance payable before conversion within 18 months. If all warrants are fully converted, the share count will further rise to about 3.85 crore shares, taking total capital to roughly Rs. 38.52 crores.
Existing public shareholders face significant dilution - their stake shrinks by roughly 36% immediately and could fall further if promoter warrants are converted. While the Rs. 40 issue price provides a benchmark for valuation and promoter participation signals confidence, the deferred 75% warrant payment means actual cash inflow from promoters will only come if and when warrants are exercised.