Board Meeting pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 ('SEBI LODR Regulations'): Allotment of 13,50,000 Equity Share and 11,50,000 ....
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Davin Sons Retail Ltd has allotted 13,50,000 equity shares to non-promoter allottees and 11,50,000 convertible warrants to promoters on a preferential basis at ₹25 per share/warrant (face value ₹10, premium ₹15). The equity share portion raised ₹3.37 crore, while the warrant portion can raise up to an additional ₹2.87 crore on full conversion within 18 months (by June 14, 2027). Promoters Mohit Arora and Nohit Arora received 6,50,000 and 5,00,000 warrants respectively, with 25% subscription money already received. Total preferential issue aggregates to ₹6.25 crore, with allottees including Vansha Wealth Management, Gaurav Jain HUF, RNR Wealth Management, and others. The paid-up equity capital will increase from ₹5.26 crore to ₹6.61 crore immediately, and up to ₹7.76 crore on full warrant conversion, causing minor promoter holding dilution from 47.70% to 47.15%.
The preferential allotment brings in fresh capital to the small SME-listed company but at a fixed price of ₹25, which could act as a near-term price anchor. Shareholders should note promoter dilution is minimal, but the low free-float post-allotment and potential supply overhang from warrant conversion within 18 months are key things to watch.