Announced Tue, 7 Jul · 14:30 IST
Board approves Rs 23.95 cr warrants issue to promoter, new auditor
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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AI summary
Board approved preferential issue of 5,00,000 equity convertible warrants at Rs 479 each (including premium of Rs 469) to promoter Mohammad Quaim Syed, aggregating Rs 23.95 crore. Warrants convertible into equity within 18 months of allotment, subject to shareholder and other approvals. Board also appointed M/s Bilimoria Mehta & Co as statutory auditor for 5 years (FY27 to FY31), replacing Piyush Kothari & Associates. EOGM notice and scrutinizer appointment approved.
Likely market impact
Promoter-led fundraise of Rs 23.95 cr may dilute existing shareholders once warrants are converted; auditor change is routine.