Please find attached herewith the outcome of the board meeting held on today i.e. 09/02/2026.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved raising funds of approximately Rs. 85.99 crore by issuing 6.63 crore share warrants at Rs. 12.96 each (face value Rs. 10, premium Rs. 2.96) through a preferential issue to 23 non-promoter allottees. Each warrant is convertible into one equity share within 18 months from the date of allotment. The largest allottee is Spunwell Technology Private Limited (1.06 crore warrants), followed by Pearl Dealers (49 lakh) and Orchard Road Properties (47 lakh). An Extra-Ordinary General Meeting has been scheduled for March 10, 2026, to seek shareholder approval for the issue.
This is a significant dilution event for existing shareholders as warrants can convert into equity within 18 months. The fresh capital of ~Rs. 86 crore should strengthen the company's lending capital base, but the stock may face short-term pressure due to the large size of the preferential issuance at a modest premium.