Board approves allotment of 35 lakh convertible warrants at Rs 28 each

Fund Raising View source PDF Explain this filing

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AI summary

Board allotted 35 lakh convertible warrants on a preferential basis at Rs 28 per warrant, raising about Rs 9.8 crore. Largest allottee is NO CTRL ENTERPRISES LLP with 30 lakh warrants, followed by Sunil Tripathi HUF (2 lakh), Junita Hardik Shah (1.5 lakh), and Agrawal Commercials (1.5 lakh). Allotment follows shareholder approval at EGM on May 13, 2026 and in-principle nod from NSE and BSE on June 30, 2026.

Likely market impact

Warrants may dilute equity upon conversion; company raises about Rs 9.8 crore from specific allottees on a preferential basis.