Board approves 60 crore preferential warrant issue, appoints 2 Executive Directors
LIKHITHA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Likhitha Infrastructure board approved issuing up to 25 lakh convertible warrants at Rs 240 each, raising about Rs 60 crore via preferential private placement to 21 allottees including promoters. Each warrant converts to 1 equity share; 25 percent upfront, balance within 18 months. Post-allotment dilution around 5.96 percent. Board also appointed Lohitha Gaddipati (promoter daughter) and Chandra Dheerajram (son-in-law) as Executive Directors for 5 years.
60 crore fundraise may dilute existing shareholders by about 6 percent; promoter family expands board control. Watch stock for dilution effect.