Board approves issue of 2.36 crore convertible warrants at Rs 42 each

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Price reactionminutes from the announcement price · days from the prior close

-3.8%Reaction day

₹52.00

prior close

₹50.96

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-3.3%-0.6% vs market

Other Textile Products peers, median of 187sector-1.3%-2.5% vs sector

On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 2.5 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

-3.8-3.3-0.6-1.3-2.5

Next day

-6.9-3.4-3.5-1.4-5.6

-6.9-2.6-4.3-1.4-5.5

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15d

-15.3-1.7-13.6-2.5-12.8

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UpDownMarket · Nifty Microcap 250Sector · Other Textile Products peers, median of 187Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board approved issue of up to 2.36 crore convertible warrants at Rs. 42 per share (face value Rs. 10, premium Rs. 32) via preferential allotment to 24 allottees - 2 promoters and 22 non-promoters. Total consideration about Rs. 99.32 crore. Each warrant convertible into 1 equity share within 18 months. Needs shareholder approval at AGM on October 11, 2026.

Likely market impact

Preferential warrant issue will dilute equity upon conversion, bringing about Rs. 99 crore, but is subject to shareholder approval at AGM on Oct 11.