Announced Fri, 17 Jul · 14:52 IST
Brigade Enterprises cancels Rs 180 cr promoter warrant issue
Fund Raising View source PDF
BRIGADE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+1.3%1-day move
₹554.70
prior close
₹565.80
base price
In-mkt
timing
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+0.3+0.3+0.1+0.1+1.3+2.5-2.0-4.5-5.0—————
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AI summary
Brigade Enterprises board approved cancellation of a proposed preferential issue of 34,23,000 convertible warrants worth about Rs 180 crore to promoter group entity Mysore Holdings. Warrants were priced at Rs 526 per share with Rs 516 premium. The promoter entity withdrew its subscription in deference to sentiments expressed by funds and investors. The board originally approved the issue on July 15 but reversed the decision just two days later on July 17.
Likely market impact
Planned Rs 180 cr promoter warrant issue cancelled after investor pushback; near-term negative sentiment, removes a confidence signal.