Intimation under Regulation 30 of SEBI LODR Regulation, 2015 Allotment of 20,99,200 Warrants on Preferential basis
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On the reaction day the stock moved 1.4 pts more than Nifty Microcap 250 and 1.6 pts more than its Medical Equipment & Supplies peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Hemant Surgical Industries has allotted 20,99,200 fully convertible warrants at Rs. 197 per warrant (face value Rs. 10 + premium Rs. 187) on a preferential basis to 6 allottees. The company has received Rs. 10.34 crores upfront, which is 25% of the total issue price, with the remaining 75% payable upon conversion. If all warrants are converted within 18 months, the total capital raise would be around Rs. 41.35 crores. Non-promoter entities (Singularity Large Value Fund III, Singularity Equity Fund I, and Singularity Equity Fund II) together subscribed to 14,99,200 warrants, while promoter-group members (Hemant Praful Shah, Hanskumar Shamji Shah, and Kaushik Hanskumar Shah) took up 6,00,000 warrants. Since the warrants have not been converted yet, there is no immediate change in the company's paid-up equity share capital.
On a fully diluted basis, the warrant conversion could increase the equity base by roughly 17%, leading to share dilution for existing shareholders. However, promoter participation signals insider confidence in the company's prospects, and the preferential raise at Rs. 197 per share strengthens the capital base for future growth.