Announced Fri, 28 Aug · 14:45 IST
Board approves Rs 316 crore preferential warrants, auditor reappointment
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+9.8%1-day move
₹3.99
prior close
₹4.18
base price
In-mkt
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AI summary
Board approved issue of up to 27.48 crore convertible warrants at Rs 11.50 each, up to about Rs 316.02 crore total, on preferential basis to two non-promoter LLPs (V9BIZ and AREEN Energy, 13.74 crore warrants each). Each warrant converts to one equity share within 18 months. Subject to shareholder and other approvals. Also reappointed statutory auditors for 5 years and set AGM for September 29, 2026.
Likely market impact
Capital raise signals growth plans, but full conversion will dilute promoter stake from 13.56% to 10.43%, raising dilution risk for existing holders.