The Board of Directors in its Meeting held on Wednesday, August 06, 2025 has, inter-alia, considered and approved the proposal for fund raising upto to an amount of Rs. 92,59,00,000 (Rupees ....
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The board of Hemant Surgical Industries, meeting on August 6, 2025, approved a fund-raising plan of up to Rs. 92.59 crore through a preferential, private placement route. The plan has two parts: (1) up to 26 lakh equity shares at Rs. 197 per share (face value Rs. 10, premium Rs. 187) to non-promoter investors, raising up to ~Rs. 51.22 crore; and (2) up to 21 lakh convertible warrants at Rs. 197 per warrant to promoters and non-promoters, raising up to ~Rs. 41.37 crore. Each warrant converts into 1 equity share within 18 months, with 25% payable upfront and 75% on conversion. Promoters Hemant Shah, Hanskumar Shah, and Kaushik Shah will each get 2 lakh warrants. The authorized capital will be raised to Rs. 16 crore, and an EGM is set for August 30, 2025, for shareholder approval.
Existing shareholders should note significant dilution: the combined promoter stake will fall from roughly 70.5% to about 52.6% on a fully diluted basis, while non-promoter institutional investors (notably Singularity group funds) will collectively hold over 20%. The move strengthens the balance sheet but introduces meaningful equity dilution and gives promoters less control of the company going forward.