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Awaiting price reaction for this filing.
Mac Hotels Ltd completed a preferential allotment of 7,25,133 equity shares at Rs. 45 per share raising Rs. 3.26 crore, and 45,91,903 Fully Convertible Equity Warrants at Rs. 45 each with 25% paid upfront (Rs. 11.25 per warrant). The total potential proceeds from warrant conversion is Rs. 20.66 crore. The revised filing corrects an error where warrant allottees from Sr No. 24 to 45 were mistakenly listed as 'Promoter Group' but should be 'Non-Promoter'. Post-allotment, the company's paid-up capital increased to Rs. 6.36 crore divided into 63,56,421 equity shares. Warrants are convertible within 18 months.
Significant dilution of approximately 72% from the new equity and warrant issuances. The correction to non-promoter status for serial 24-45 allottees indicates substantial non-promoter participation in the warrant round, which may reduce promoter holding concentration. Full conversion of warrants could nearly double the equity base.