Board of Directors have approved allotment of 31,75,000 Equity shares and 20,25,000 convertible warrants
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Concord Drugs Ltd's Board approved a preferential allotment of 31,75,000 equity shares at ₹36.30 per share (face value ₹10, premium ₹26.30), raising approximately ₹11.53 crore. Promoters S. Nagi Reddy, S. Koni Reddy, and S. Manoj Kumar Reddy together received 5,00,000 shares, while eight public allottees took up the remaining 26,75,000 shares. Separately, the Board approved 20,25,000 convertible warrants at ₹36.30 per warrant, aggregating ₹7.35 crore, of which 25% upfront money has already been received. Promoters account for 18,00,000 of the warrants, with one public allottee taking the balance. Warrants are convertible into equal number of equity shares within 18 months from allotment.
The allotment will lead to equity dilution for existing shareholders but brings in roughly ₹13.4 crore in fresh capital (including the warrant component). Strong promoter participation, with the promoter group subscribing to most of the warrants, signals management confidence in the company's growth plans.