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Awaiting price reaction for this filing.
Davin Sons Retail has confirmed the intended use of proceeds from a preferential issue consisting of 19,25,000 equity shares and 11,50,000 convertible warrants at ₹25 per security, aggregating to about ₹7.69 crore. The MD, Mohit Arora, has declared that the funds will be used strictly for the stated objects approved by the Board and shareholders. The primary purpose is expanding retail operations by opening new stores and supporting associated working capital needs. The company has committed to reporting any deviations from the stated use of proceeds as required under SEBI regulations.
This is a regulatory confirmation rather than a new event — shareholders can expect the company's retail footprint to grow once the ₹7.69 crore is deployed. The relatively small size of the preferential issue (under ₹8 crore) means limited dilution risk, but warrants convertible into equity could increase share count later if exercised.