Announced Fri, 10 Jul · 17:12 IST
Board approves preferential issue of 60 lakh warrants at Rs 11 each
Corporate Actions View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
—1-day move
₹31.83
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
—————+15.7+21.5+27.6+34.0+32.2————
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AI summary
The board approved a preferential issue of up to 60 lakh warrants convertible into equity shares at Rs 11 per warrant (face value Rs 10), aggregating up to Rs 6.6 crore, to 10 non-promoter allottees. Authorised share capital will be raised from Rs 5.5 crore to Rs 10 crore, subject to shareholder approval at the 34th AGM. Each allottee gets 6 lakh warrants (6.41 percent post-issue stake). Warrants have an 18 month tenor.
Likely market impact
Significant equity dilution as 60 lakh new warrants add to about 33.6 lakh existing shares, expanding capital by roughly 64 percent post-issue.