Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mini Diamonds India Ltd's board, at its April 15, 2025 meeting, approved increasing the authorized share capital from Rs. 24 crore to Rs. 30 crore. The company plans to issue up to 60 lakh convertible equity warrants on a preferential basis at Rs. 153 per warrant, potentially raising up to Rs. 91.8 crore. Each warrant is convertible into one equity share of Rs. 10 face value, with 25% payable upfront and the balance 75% due on exercise within 18 months. The warrants are proposed to be allotted to 27 allottees, predominantly members of the Bhanderi family (4 allottees each receiving 10 lakh warrants), giving them a combined post-conversion shareholding of about 20.29%. An Extra-Ordinary General Meeting has been scheduled for May 13, 2025 to seek shareholder approval for these matters.
This is a significant equity dilution event for existing shareholders, with promoter-linked entities set to take up roughly 20% post-conversion, potentially strengthening the promoter group's control. Retail investors should watch the EGM outcome and assess whether the Rs. 153 pricing and warrant structure are favourable, as full conversion would expand the share base substantially.