The Board of Directors have approved allotment of Equity shares and Convertible warrants
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Concord Drugs' Board approved the allotment of 31,75,000 equity shares at ₹36.30 per share (face value ₹10, premium ₹26.30), raising about ₹11.52 crore on a preferential basis. The allottees include promoters S. Nagi Reddy, S. Koni Reddy, and S. Manoj Kumar Reddy (5 lakh shares combined), along with eight public-category allottees led by C. Sushmitha (11 lakh shares). Separately, the Board approved 20,25,000 convertible warrants at the same ₹36.30 price, potentially raising another ₹7.35 crore if fully converted. Promoters are taking 18 lakh of these warrants, with 25% upfront money already received. Warrants are convertible within 18 months.
The preferential issue expands the equity base by ~31.75 lakh shares immediately, with a further ~20.25 lakh shares possible on warrant conversion, leading to meaningful dilution for existing public shareholders. Promoters are increasing their stake, which is generally seen as a positive signal of management confidence.