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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved increasing the authorized share capital from Rs. 7.5 crore to Rs. 17.5 crore to make room for a preferential issue of up to 2 crore convertible warrants at Rs. 25 each, raising up to Rs. 50 crore in aggregate. Each warrant has a face value of Rs. 5, so the issue price carries a 5x premium over face value, with 25% payable upfront and the rest on conversion within 18 months. Allottees include promoter entity Nico India Consultancy LLP (whose stake will rise from 17.50% to 20.93%) and several non-promoter investors, many appearing to be related parties or existing associates. The board also accepted the resignation of Independent Director Mrs. Sonu Agarwal (personal reasons) and appointed Mr. Navin Kumar Jain as an Additional Independent Director. The 32nd AGM is fixed for September 27, 2025 via video conferencing, with book closure from September 21-27, 2025.
The preferential warrant issue will dilute existing shareholders by potentially adding up to 2 crore shares if fully converted, but brings in up to Rs. 50 crore of fresh capital. The change in independent directorship and the new Loan Against Property policy suggest a shift toward more active lending operations for the company.