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Awaiting price reaction for this filing.
Golkunda Diamonds & Jewellery has called an EGM on 9 March 2026 to seek shareholder approval for issuing up to 12,90,000 convertible warrants on a preferential basis to non-promoter entities at Rs. 214 per warrant (Rs. 10 face value + Rs. 204 premium), with a potential total raise of about Rs. 27.6 crores. Allottees include 24 entities such as HUFs, individuals, LLPs, and companies like Fortune Bright Trading LLP and Shanti Gold International Ltd. The company plans to use the proceeds for working capital (Rs. 15.6 cr), setting up a domestic jewellery manufacturing unit (Rs. 6 cr), and general corporate purposes (Rs. 6 cr). Warrant holders must pay 25% upfront and the remaining 75% within 18 months on conversion. Promoter holding will fall from 72.81% to 61.43% assuming full conversion, while public shareholding will rise from 27.19% to 38.57%.
Existing public shareholders will see their stake diluted by about 11.4% on full conversion since the issue is only to non-promoter entities with no rights offer to existing shareholders. The fresh capital supports business expansion into domestic jewellery manufacturing, but warrants add potential future supply of shares once converted.