Board approves allotment of 6 lakh convertible warrants at Rs 37 each

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Nifty Microcap 250market · in no size index; the smallest one is used+0.8%-0.0% vs market

Gems, Jewellery And Watches peers, median of 41sector+0.5%+0.4% vs sector

On the reaction day the stock moved in line with Nifty Microcap 250 and 0.4 pts more than its Gems, Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Gems, Jewellery And Watches peers, median of 41Pending

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AI summary

Koura Fine Diamond Jewelry board allotted 6,00,000 convertible warrants at Rs 37 each on preferential basis to two allottees. Promoter Kamlesh Lodhiya received 3.5 lakh warrants; non-promoter Jogiya Geetaben Dhirajlal received 2.5 lakh. Total issue value is Rs 2.22 crore, with 25 percent (Rs 55.5 lakh) already received as upfront subscription. Each warrant is convertible into one equity share of Rs 10 face value within 18 months.

Likely market impact

Potential dilution on conversion; promoter stake may fall from 42.77 percent to 39.88 percent. Up to Rs 2.22 crore fresh capital possible.