Outcome of Board Meeting

Warrants ConvertedFund Raising View source PDF Explain this filing

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+4.9%Reaction day

₹21.66

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.8%+4.1% vs market

Pharmaceuticals peers, median of 154sector-0.2%+5.1% vs sector

On the reaction day the stock moved 4.1 pts more than Nifty Microcap 250 and 5.1 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+4.9+0.8+4.1-0.2+5.1

Next day

+1.1+1.3-0.2+0.1+1.1

-3.0+2.0-5.0+0.0-3.0

-7.6+1.7-9.3+0.5-8.1

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+5.9-1.6+7.5-3.5+9.4

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-15.8-0.2-15.6-4.9-11.0

-35.5-5.4-30.1-7.7-27.9

UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 154Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The board has allotted 2,81,58,500 convertible warrants at Rs. 13.05 per warrant (face value Rs. 10, premium Rs. 3.05) to promoters and non-promoter individuals/HUFs on a preferential basis under SEBI ICDR regulations. Allottees paid 25% upfront (~Rs. 9.19 crore), with the remaining 75% due upon conversion within 18 months. Each warrant converts into one equity share. Allottees include 11 individuals/HUFs, with promoter Dipna Keyur Shah receiving 80.67 lakh warrants and the largest non-promoter allottee Kajal Ashok Jain receiving 94.11 lakh warrants. Post full conversion of all 5.80 crore warrants (including 2.99 crore from the previous board meeting), paid-up capital will rise from Rs. 24.05 crore (2.40 crore shares) to Rs. 82.08 crore (8.21 crore shares).

Likely market impact

Major equity dilution looms — the share count will more than triple (from ~2.4 crore to ~8.2 crore shares), significantly diluting existing shareholders' stakes. The issue price of Rs. 13.05 is modest with thin premium over face value, so warrant holders need only a marginal price rise to break even. Watch for any potential price pressure as more shares enter circulation on conversion.