Board approves 30 lakh convertible warrants at Rs 92 each

Board & Shareholder Meetings View source PDF

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AI summary

Jattashankar Industries allotted 30 lakh convertible warrants at Rs 92 each on a preferential basis, with a Rs 10 face value and Rs 82 premium. Warrants went to 13 allottees (10 non-promoters and 3 promoter group entities like Spazio Formulations, Alantis Comtrade LLP, Alantis Globe LLP). The company received 25 percent upfront consideration of Rs 6.9 crore. The remaining 75 percent is due before converting warrants into equity shares within 18 months.

Likely market impact

Potential equity dilution if warrants convert. Planned capital raise of about Rs 27.6 crore, with Rs 6.9 crore already received upfront.