Board drops Rs 316 cr warrant plan, okays Rs 99 cr preferential equity issue
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kalind Limited's board withdrew its earlier plan to issue up to 27.48 crore warrants at Rs 11.50 each (up to Rs 316 crore). Instead, it approved a fresh preferential issue of up to 8.60 crore equity shares at Rs 11.50 per share, aggregating about Rs 99 crore. Shares will go to three non-promoter allottees: SRM Global Infrastructure, Orange AI Tech, and Eroc Colorant. Issue price is above the floor price of Rs 11.39. Promoter holding will dilute from 13.56% to 12.39%. Member approval via corrigendum to September 29 AGM notice.
Existing shareholders face dilution. Promoter stake drops from 13.56% to 12.39%. Fundraise size cut sharply from Rs 316 cr to Rs 99 cr.