Mish Designs allots shares and warrants on preferential basis
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On the reaction day the stock moved 4.5 pts more than Nifty Microcap 250 and 5.0 pts more than its Garments & Apparels peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mish Designs allotted 2,63,160 equity shares at Rs 57 each and 2,45,615 convertible warrants at Rs 57 each on a preferential basis. The company raised Rs 1.50 crore from the equity shares and Rs 35 lakh as 25 percent upfront payment on the warrants. Allottees include promoter Kaushal Goenka and promoter group member Bhawna Goenka along with three non-promoter investors. The balance 75 percent on warrants is payable within 18 months upon conversion.
Preferential allotment will dilute existing equity. Promoter participation signals confidence. Balance 75 percent on warrants is due within 18 months.