Announcement under Regulation 30 (LODR)-Issue of Securities
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Awaiting price reaction for this filing.
Mish Designs Ltd's board approved an increase in authorised share capital from Rs. 3.40 crore to Rs. 3.90 crore, enabling the issuance of 2,63,160 equity shares and 2,45,615 convertible warrants on a preferential basis. Promoter group (Kaushal Goenka and Bhawna Goenka) will receive 87,720 equity shares and 1,57,895 warrants respectively, while public allottees include Tapan Shah, Dhaval Parikh, and Nihir Parikh. The warrants carry a 25% upfront payment with the remaining 75% payable upon conversion within 18 months; unexercised warrants will lapse with forfeiture of the initial consideration. Post-issue, promoter holding will dilute slightly from 56.69% to 55.53% as public shareholding increases.
The dilution is modest (~2%) for promoters, with the warrants representing future equity expansion risk if exercised. The 18-month conversion window creates potential overhang on the stock until converted or lapsed.