Preferential issue of 1.01 crore warrants to Cupid at Rs 331.53 cr

Fund Raising View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-7.0%Reaction day

₹334.90

prior close

₹330.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.8%-6.1% vs market

On the reaction day the stock moved 6.1 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.6

10m

-1.0

15m

-2.0

30m

-1.7

Sessions after the filingfrom the prior close

StockMarketvs market

Reaction day

-7.0-0.8-6.1

Next day

-2.3+0.7-3.1

+0.5-1.4+1.9

+0.7-1.3+1.9

+1.2+0.7+0.5

-1.2+0.3-1.5

-6.2+0.9-7.0

15d

+6.0+6.8-0.8

+0.3+4.3-4.0

-26.7-8.7-17.9

+4.2+8.6-4.4

UpDownMarket · Nifty Microcap 250Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board approved preferential issue of 1,01,00,000 equity warrants at Rs 328.25 each to Cupid Limited, aggregating about Rs 331.53 crores. Each warrant is convertible into 1 equity share of face value Rs 5 within 18 months. Cupid currently holds nil shares; post-conversion it will hold 11.92 percent. Subject to shareholder and regulatory approvals.

Likely market impact

Cupid becomes 11.92 percent holder post-conversion, signalling a strategic partnership. Potential dilution for existing shareholders.