In-principle approval letter for issuance of 67,51,500 warrants convertible into equity shares
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Disha Resources Ltd has received in-principle approval from BSE for issuing 67,51,500 warrants, each convertible into one equity share of Rs. 10 face value, at a price of not less than Rs. 28.50 per share. The warrants will be allotted to non-promoters on a preferential basis, meaning new investors are being brought in rather than existing shareholders. At the minimum issue price, the company stands to raise roughly Rs. 19.24 crore once the warrants are exercised, though the actual amount depends on how many warrants are ultimately converted. This is a regulatory clearance step — the company still needs to complete the actual allotment, obtain other statutory approvals, and file for listing post-allotment. No specific allottees or current market price were disclosed in the filing, so the premium or discount to market cannot be determined from this document alone.
Existing shareholders should expect dilution once these warrants are converted into equity shares, expanding the share count by up to 67.51 lakh shares. The preferential issue to non-promoters signals fresh capital infusion and possible change in shareholder composition, which could be positive if funds are used for growth but may pressure the stock in the short term.