14,667 warrants convert into 44,000 equity shares
FREDUN · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 1.5 pts less than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board allotted 44,000 fully paid equity shares of Rs 10 each to three non-promoter investors after they converted 14,667 warrants and paid the balance amount. Following a 1:2 bonus issue, each warrant was adjusted to three shares. The new shares rank equally with existing shares.
The issue creates minor dilution for existing shareholders, while the company has received the full warrant consideration.