No deviation in use of preferential issue proceeds
HALDER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.2 pts less than Nifty Microcap 250 and 1.1 pts less than its Edible Oil peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The company received Rs 6.25 crore as 25 percent upfront consideration for 793,650 convertible warrants priced at Rs 315. Of this, Rs 1.42 crore was used for capital expenditure and Rs 4.83 crore for working capital. No deviation from the approved Rs 25 crore use of funds was reported. The Audit Committee reviewed the statement and made no comments.
Neutral near term as no fund diversion was found. Future conversion of the warrants may dilute existing shareholders.