Announced Wed, 1 Jul · 10:59 IST
Board approves conversion of 2,61,503 warrants into equity shares
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Price reaction · full curve 14 horizons · vs prior close
+2.5%1-day move
₹115.00
prior close
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base price
In-mkt
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AI summary
The board approved converting 2,61,503 warrants into equity shares at Rs. 114 each (face value Rs. 10, premium Rs. 104) for 7 allottees, receiving Rs. 2.24 crore as the balance 75 percent payment. Post-allotment paid-up capital rises to Rs. 34.93 crore (3,49,31,355 shares). 36,10,359 promoter warrants and 21,75,165 non-promoter warrants remain pending for conversion.
Likely market impact
Minor dilution from 2,61,503 new shares; remaining promoter and non-promoter warrants, if converted, will further dilute equity. Cash inflow of Rs. 2.24 crore.