Board approves allotment of equity shares and warrants on preferential basis
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Mish Designs Limited board approved allotment of 2,63,160 equity shares and 2,45,615 warrants convertible into equity shares on preferential basis at Rs. 57 each (face value Rs. 10, premium Rs. 47). Company received Rs. 1.50 crore for equity shares and Rs. 35 lakh (25 percent) for warrants. Balance 75 percent for warrants due within 18 months. Allotted to 5 allottees including promoters Kaushal Goenka and Bhawna Goenka, plus non-promoter investors.
Fresh capital infusion but potential equity dilution upon warrant conversion within 18 months. Promoters also participating shows confidence.