Panache Digilife Limited has informed the Exchange regarding Outcome of Board Meeting held on September 25, 2025.
PANACHE · price
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The board of Panache Digilife, held on September 25, 2025, approved issuing up to 37,56,000 convertible warrants at ₹263 each, raising up to ₹98.78 crores via a preferential allotment to promoters and non-promoters. Promoters and promoter group members will receive 15,40,000 warrants, while 23 non-promoter public investors will get 22,16,000 warrants. Warrant holders must pay ₹66 upfront and the remaining ₹197 upon exercise within 18 months, after which unexercised warrants lapse. The board also approved a new ESOP scheme ('Panache – ESOP 2025') covering up to 6,00,000 equity shares for eligible employees, and increased the authorised share capital from ₹20 crores to ₹22 crores. An EGM is scheduled on October 18, 2025, to seek shareholder approval for these proposals.
This is a significant equity dilution event. If all warrants are exercised, promoter holding will stay around 40% combined, but the public float will expand substantially. Existing shareholders should expect EPS dilution. The price of ₹263 is set at or above the SEBI floor price, so no discount is being offered. Shareholders should watch the EGM outcome on October 18 and the subsequent warrant conversion announcements.