Announced Thu, 9 Jul · 11:17 IST
Board approves warrants issue to promoters at 30% premium to market price
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
+0.0%1-day move
₹6.10
prior close
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AI summary
Mini Diamonds India board approved issuing up to 1.11 crore convertible warrants at INR 8 each (including INR 6 premium), aggregating up to INR 8.88 crore. Warrants to be allotted on preferential basis to promoters Upendra Narottamdas Shah and Ronish U Shah (55.5 lakh warrants each). Issue price is about 30% above prevailing market price. Warrants convert into equal equity shares within 18 months. EGM on August 7, 2026 for member approval.
Likely market impact
Promoters committing fresh capital at a premium signals confidence, but potential dilution of about 4.5% on full conversion. EGM approval pending.