OUTCOME OF BOARD MEETING - 23,90,000 ISSUE OF EQUITY WARRANTS
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Awaiting price reaction for this filing.
The board of Ecofinity Atomix Limited (formerly Aryavan Enterprise) approved raising up to ₹2.39 crore by issuing 23,90,000 equity warrants of ₹10 each on a preferential basis. Warrants will be allotted to 18 investors, including promoters (Prafullchandra Patel and Jashvantbhai Patel getting 4,59,000 warrants) and 16 non-promoter investors. Each warrant is convertible into one equity share within 18 months from allotment, upon full payment. The issue price will be fixed as per SEBI ICDR pricing rules and is subject to shareholder approval at an upcoming EGM/AGM.
This is a small preferential fundraising of ₹2.39 crore, so dilution impact is limited. Promoter participation signals insider confidence, but the stock may see mild pressure on conversion of warrants. Shareholders should watch for the EGM/AGM date and the final issue price once determined.