Announced Tue, 25 Aug · 13:42 IST
FCCB conversion - 26.59 crore shares allotted at INR 3.60 each
DAVANGERE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-9.7%1-day move
₹2.88
prior close
₹2.88
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+0.3+0.3-9.7-26.4-27.1-27.1-27.8-28.8-26.7———
Up moveDown movePending
AI summary
Davangere Sugar Company allotted 26.59 crore equity shares to three non-resident investors upon conversion of 100 FCCBs worth USD 10 million (about INR 95.73 crore). Shares were allotted at INR 3.60 per share against face value of INR 1. Paid-up equity capital has increased to about INR 169.59 crore. 900 FCCBs remain outstanding post this conversion, listed on Afrinex Exchange in Mauritius.
Likely market impact
Significant equity dilution for existing shareholders. Conversion at INR 3.60 is well below likely market price, which may weigh on the stock.