Announced Tue, 7 Jul · 14:38 IST
Board approves Rs 23.95 cr preferential warrants issue to promoter
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-2.3%1-day move
₹491.40
prior close
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base price
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————-2.3+4.0+6.2+6.4+10.5+7.8+1.8———
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AI summary
Board approved preferential issue of 5 lakh equity convertible warrants to promoter Mohammad Quaim Syed at Rs 479 each, including Rs 469 premium, totaling Rs 23.95 crore. Warrants convert into equity within 18 months. Issue pending shareholder approval at upcoming EOGM. New statutory auditor Bilimoria Mehta and Co appointed for 5 years from FY 2026-27.
Likely market impact
May dilute equity on warrant conversion; promoter stake to rise pending shareholder approval