Board allots 4,53,412 shares on convertible warrant conversion

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Price reaction · full curve 14 horizons · vs prior close

-6.8%1-day move

₹139.00

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AI summary

Board allotted 4,53,412 equity shares to Koriander Consultants LLP (non-promoter) on conversion of convertible warrants at Rs. 10 per share. Balance 75 percent consideration of Rs. 34,00,590 received now. Paid-up equity capital rises to Rs. 10 crore (1 crore shares of Rs. 10 each). Koriander stake moves from 10.47 percent to 14.53 percent.

Likely market impact

Mild equity dilution from warrant conversion. Single non-promoter allottee concentration rises to 14.53 percent stake.