Intimation of Issue of Equity Shares / Convertible Equity Share Warrants on Preferential basis.
Price
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Awaiting price reaction for this filing.
iStreet Network has disclosed the detailed terms of its preferential issue approved at the board meeting on September 1, 2025. The company will allot 4.88 crore equity shares to 54 public investors and 9.6 crore convertible warrants to 83 investors (including promoters) at ₹6 per share/warrant, which is ₹4 face value plus ₹2 premium. Two promoters, Uttam Ishwarlal Dave and Yash Maheshwari, will each receive 2.29 crore warrants, bringing their post-issue holding (assuming full conversion) to 16.37% each, down from 19.97% pre-issue. The filing also corrects inadvertent errors in the earlier September 1 disclosure regarding the allocation numbers to certain allottees. Total post-issue shareholding, assuming full warrant conversion, will reach approximately 92.30% for the listed allottees, indicating a large capital infusion.
This preferential issue will bring in roughly ₹29.3 crore from equity shares and potentially up to ₹57.6 crore more if all warrants are converted, but it represents a significant dilution for existing shareholders. The stock may see pressure given the large expansion of the equity base at a price only modestly above face value.