Outcome of Board Meeting held on today May 29 2026 for approval of issuance of warrants.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board of Credent Global Finance Limited approved issuance of up to 61.46 lakh convertible equity warrants to promoter Mr. Aditya Vikram Kanoria at Rs. 29.75 per warrant, aggregating Rs. 18.28 crore. The warrant holder can convert each warrant into 1 equity share within 18 months. The company also reported strong FY26 results with standalone net profit of Rs. 279.27 lakh and consolidated net profit of Rs. 2,500.79 lakh. The promoter stake will increase from 13.14% to 21.03% post full conversion. The warrant issuance is subject to shareholder approval at an EGM and regulatory approvals.
This preferential allotment to the promoter increases insider ownership significantly, which may dilute minority shareholders. The substantial warrant conversion could increase share count by ~60% from current levels, potentially affecting per-share metrics.