Announced Thu, 1 Oct, 2026 · 18:41 IST
Board approves preferential issue, warrants, and acquisition of FWSL via RNCPS
GFSTEELS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+4.0%1-day move
₹38.29
prior close
—
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+4.0+6.1+8.2———————
Up moveDown movePending
AI summary
Board approved issuing up to 1.04 crore equity shares at Rs 10 each (about Rs 10.40 crore) and 8.84 crore convertible warrants at Rs 10 each (about Rs 88.45 crore) via preferential allotment. Also approved acquiring 90.82% stake in Fusionnet Web Services from SAR Televenture for Rs 256.84 crore, paid through 8.56 crore 3.20% redeemable preference shares at Rs 30 each. EGM set for October 28, 2026.
Likely market impact
Significant equity dilution possible from warrants conversion; FWSL acquisition expands telecom reach. Subject to EGM and regulatory nods.