Announced Wed, 1 Jul · 15:37 IST
Preferential issue of equity shares and warrants at Rs 72 each
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
+10.2%1-day move
₹77.05
prior close
₹80.90
base price
After-mkt
timing
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———+0.0+10.2+9.3+1.5+0.1+3.7+2.4-9.1———
Up moveDown movePending
AI summary
Board approved issuing up to 23 lakh equity shares at Rs 72 each (Rs 62 premium) and 11.5 lakh convertible warrants at the same price to non-promoter investors on preferential basis. Combined potential raise is about Rs 24.84 crore. Investors include Aegis Investment Fund PCC, Niveza Small Cap Fund and Enact Technologies. For warrants, 25 percent is payable upfront and rest on conversion within 18 months. Postal ballot seeks shareholder approval.
Likely market impact
Potential Rs 24.84 crore raise with about 16 percent dilution on full warrant conversion. Postal ballot approval and use of funds details are key.