Announced Mon, 22 Jun · 19:38 IST
Board approves Rs 60 crore warrant issue, appoints two executive directors
LIKHITHA · 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
+3.7%1-day move
₹255.37
prior close
₹260.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+3.1+2.8+0.0+0.0+3.7+1.8+5.9+4.9+4.3+2.8-5.6-9.5——
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AI summary
Board approved issuing up to 25 lakh convertible warrants at Rs 240 each, raising about Rs 60 crore from 21 allottees on a preferential basis, including promoter Likhitha Gaddipati (3.25 lakh warrants). Also appointed Lohitha Gaddipati, daughter of MD Srinivasa Rao Gaddipati and sister of CFO Likhitha Gaddipati, and Chandra Dheerajram, son-in-law of the MD and husband of the CFO, as Additional Executive Directors for 5 years from June 22, 2026.
Likely market impact
Promoter family members join the board and back the Rs 60 crore fundraise, signaling commitment; expect about 6 percent dilution on warrant conversion.