Board withdraws Rs 32.57 cr preferential warrant issue, to fund via accruals and borrowings
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On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and 0.5 pts more than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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D&H India board on 15 Oct 2026 approved withdrawal of proposed preferential allotment of 21,57,000 warrants at Rs 151 each (total about Rs 32.57 crores) to promoters and promoter group. The issue, originally cleared by the board in March 2026 and by an EGM in April 2026, faced an abnormal delay in getting BSE in-principle approval. With share price rising substantially, the Audit Committee recommended withdrawal. The company will now fund the planned objectives through internal accruals and bank and financial institution borrowings instead.
Withdrawal of equity dilution is positive for existing shareholders. Shift to debt funding may raise interest costs but reflects rising share price confidence.