Raising of funds through issuance of 6,63,51,000 (Six Crore Sixty-Three Lakhs Fifty-One Thousand) warrants having face value of Rs. 10/- (Rupees Ten Only) each at an issue price of Rs. ....
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Awaiting price reaction for this filing.
The board of Golden Legand Leasing & Finance Ltd has approved raising around Rs. 85.99 crores by issuing 6,63,51,000 share warrants (fully convertible into equity shares) to 23 non-promoter allottees on a preferential basis. Each warrant has a face value of Rs. 10 and is being issued at Rs. 12.96, which includes a premium of Rs. 2.96 per warrant. The warrants can be converted into one equity share each within 18 months from allotment, in one or more tranches. An Extra-Ordinary General Meeting has been scheduled for March 10, 2026 to seek shareholder approval, and a scrutinizer has been appointed for the e-voting process.
This is a sizeable equity dilution event for a small company — once converted, these warrants will add roughly 6.63 crore new shares, materially expanding the share count. Issuing at a small premium to face value is mildly positive, but existing shareholders should weigh the dilution impact on per-share value before the EGM vote on March 10, 2026.