Board allots 35 lakh convertible warrants at Rs 28 each on preferential basis

Warrants ConvertedFund Raising View source PDF Explain this filing

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AI summary

Board of Nakoda Group of Industries allotted 35,00,000 convertible warrants on a preferential basis at Rs 28 per warrant. Allottees: NO CTRL ENTERPRISES LLP (30 lakh), Agrawal Commercials (2 lakh), Junita Hardik Shah (1.5 lakh), Sunil Tripathi HUF (1.5 lakh). Move follows shareholder approval at May 13, 2026 EGM and in-principle nod from BSE and NSE on June 30, 2026. Total potential raise of about Rs 9.8 crore upon conversion.

Likely market impact

Potential equity dilution when warrants are converted. Single allottee takes 86 percent of warrants, raising concentration concerns.