Board approves issue of 32 lakh equity warrants worth Rs 3.2 cr on preferential basis
DEEP · price
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Deep Polymers board approved issuing 32 lakh equity warrants on a preferential basis, aggregating up to Rs 3.20 crore. Warrants carry face value of Rs 10 each and can be converted into equity shares within 18 months. Promoter group (Deepal Patel and Aryan Patel) will receive 12 lakh warrants; remaining 20 lakh go to 12 non-promoter investors. Issue price will follow SEBI ICDR pricing rules. Final approval needs shareholder nod via EGM.
Potential equity dilution if warrants are converted; promoters take 12 lakh of 32 lakh warrants, which could lift promoter stake. Awaits shareholder approval.