The Board at their Meeting held on today has considered and approved issue on convertible share warrant on preferential basis subject to the approval of members in upcoming EGM in terms ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Emrock Corporation's board has approved issuing up to 14,98,000 convertible warrants at Rs. 290 each, raising approximately Rs. 43.44 crore. Each warrant is convertible into one equity share (face value Rs. 10) within 18 months. Investors will pay 25% upfront (Rs. 72.50 per warrant) and the remaining 75% at conversion. Out of 40 investors, two promoter group members (Patel Jyotsanaben and Patel Varsha) are receiving 5 lakh warrants combined. Post full conversion, these new warrants will add 5.20% dilution to existing shareholders. The company also increased its authorised capital from Rs. 30 crore to Rs. 35 crore. An EGM is scheduled for June 27, 2026 for shareholder approval.
The preferential warrant issuance will cause dilution for existing shareholders when converted. The Rs. 290 issue price represents a significant premium to face value, but the actual market impact depends on the current market price of the stock.