EGM seeks approval for capital raise and 11.29 crore convertible warrants
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On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and in line with its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The company will hold an online EGM on November 16, 2026. Shareholders will vote to raise authorised capital from Rs 30 crore to Rs 196 crore, raise up to Rs 150 crore from eligible investors, and issue 11.29 crore warrants at Rs 21.70 each to selected investors. Each warrant converts into one Rs 10 share within 18 months.
Approval could fund projects and repay debt, but the share issue and warrant conversion may dilute existing shareholders and increase stock-price volatility.