We request all stakeholders to take on record the outcome of the Board meeting held on 13-05-2025, the summary/details of which are enclosed herewith for your kind perusal and necessary reference."
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.4 pts more than Nifty Microcap 250 and 3.6 pts more than its Other Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
The board of Indian Link Chain Manufacturers Ltd, at its meeting on 13 May 2025, approved raising up to Rs. 56 crore through a preferential allotment of equity shares and convertible warrants at Rs. 71 per share. The equity share portion totals about Rs. 18.10 crore (25.5 lakh shares) allotted to 16 investors, while the warrant portion totals about Rs. 37.63 crore (53 lakh warrants) allotted to 8 investors. The warrants are convertible into equity within 18 months, with the application money getting forfeited if not converted. Rajendra Chodankar is the largest proposed allottee, taking 10 lakh equity shares (Rs. 7.1 crore) and 40 lakh warrants (Rs. 28.4 crore), together making up over 60% of the total issue. The issue remains subject to shareholder and other regulatory approvals.
This preferential issue will dilute existing shareholders once completed, since new shares and warrants are being issued at Rs. 71 per share. The stock may see short-term pressure given the large fund raise, but the money coming in could strengthen the company's capital base for future growth or working capital needs.