Announced Wed, 15 Jul · 18:47 IST
EGM notice for issuing 1.11 crore warrants to promoters at INR 8 each
Board & Shareholder Meetings View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-4.2%1-day move
₹6.00
prior close
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base price
After-mkt
timing
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AI summary
Mini Diamonds (India) Ltd has called an EGM on August 07, 2026 to seek shareholder approval for issuing up to 1.11 crore convertible warrants at INR 8 each to promoters, raising up to INR 8.88 crores. Allottees are MD Upendra Shah (55.5 lakh warrants, INR 4.44 cr) and Ronish U Shah (55.5 lakh warrants, INR 4.44 cr). Proceeds will fund expansion of lab-grown diamond business. 25 percent is payable upfront and 75 percent on conversion within 18 months.
Likely market impact
Promoters to invest up to INR 8.88 cr for lab-grown diamond expansion. Warrants convertible to equity may dilute shareholders upon exercise in 18 months.