Allotment of 8,66,20,000 convertible share warrants ("warrants") at issue price of Rs.4.31/- per warrant to person belonging to promoter and non-promoter category.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250 and 2.5 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board approved allotment of 8,66,20,000 convertible warrants at Rs. 4.31 per warrant on a preferential basis, raising a total issue size of about Rs. 37.33 crore. Allottees include promoter entity Luharuka Exports Pvt Ltd (4.40 crore warrants) and 29 non-promoter investors. The company received 25% upfront amount of Rs. 9.33 crore, with the remaining 75% payable within 18 months upon conversion. Separately, 77,30,000 previously issued warrants were converted into equity shares, bringing in an additional Rs. 2.50 crore. As a result, the paid-up equity capital rose from Rs. 18.74 crore to Rs. 19.52 crore.
This is a dilution event for existing shareholders due to a large preferential warrant issue (potentially up to ~46% expansion of equity on full conversion). The mix of promoter participation and conversion of earlier warrants signals ongoing capital infusion, but investors should watch for further dilution when the remaining warrants are exercised within 18 months.