Promoters convert 16 lakh warrants into equity shares worth Rs 6 Cr
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 2.6 pts less than its Dairy Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Modern Dairies has allotted 16 lakh equity shares to its promoters and promoter group after they converted their warrants into shares. The warrants were issued at Rs 50 per share (Rs 10 face value plus Rs 40 premium). Promoters paid the balance 75 percent (Rs 37.50 per share) totalling Rs 6 Crores. Paid-up equity capital rose from Rs 28.42 Crores to Rs 30.02 Crores. Promoter holding increased from 29.65 percent to 33.40 percent.
Promoter holding rises to 33.40 percent from 29.65 percent; mild dilution for non-promoter shareholders but shows promoter confidence.