Promoter gets warrants for 2.33% of diluted voting capital
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On the reaction day the stock moved 1.2 pts more than Nifty Microcap 250 and 0.5 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoter Indra Meghraj Jain was allotted 550,000 convertible equity warrants through a preferential allotment on October 19, 2026. The warrants represent 2.33% of fully diluted voting capital. He already held 63,036 shares, or 0.30%. Including the warrants, his potential holding would be about 2.60% of fully diluted voting capital.
The larger promoter holding may support sentiment, but warrant conversion would add 550,000 shares and reduce existing holders' voting percentages.