Promoters convert warrants to equity shares; new director appointed

Warrants convertedFund Raising View source PDF Explain this filing

Price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+0.1%Reaction day

₹1388.00

prior close

₹1360.00

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.2%+0.4% vs market

Iron & Steel Products peers, median of 102sector+0.0%+0.1% vs sector

On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 0.1 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.4

10m

-0.4

15m

-0.4

30m

-0.4

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.1-0.2+0.4+0.0+0.1

Next day

-2.3+0.1-2.4+0.2-2.5

-3.5+0.4-3.8+0.4-3.8

-3.8-0.6-3.2-0.2-3.6

-6.3-1.2-5.2-0.7-5.6

-5.5-0.6-4.9+0.7-6.2

-9.5+0.5-10.0+1.0-10.5

15d

-6.4-0.2-6.2-0.3-6.1

-5.8-1.5-4.3+0.2-6.0

-40.1-8.0-32.1-7.0-33.1

—————

UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 102Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board approved conversion of 1,42,000 convertible warrants held by promoters into equity shares at Rs.1,614 each (premium Rs.1,604). Total exercise price received: Rs.17.19 crore. Allottees: Aditya Vikram Birla (68,000 shares) and AVB Entech Group (74,000 shares). Paid-up capital rises to 93,48,243 shares. Also appointed former Calcutta High Court Judge Mr. Pranab Kumar Chatterjee as Additional Director.

Likely market impact

Positive signal as promoters exercise warrants, showing confidence. Minor dilution about 1.5 percent. Adds legal expert to board.