Panache Digilife Limited has informed the Exchange regarding Board meeting held on September 25, 2025.
PANACHE · price
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On the reaction day the stock moved 7.1 pts more than Nifty Microcap 250 and 6.7 pts more than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Panache Digilife's board, on September 25, 2025, approved issuing up to 37,56,000 convertible warrants at ₹263 each, raising up to ₹98.78 crore in total. Warrants are offered to promoter group members (15.4 lakh warrants) and 23 non-promoter individuals/HUFs (22.16 lakh warrants), with ₹66 payable upfront and ₹197 on exercise within 18 months. Promoters Amit and Nikit Rambhia, who each currently hold 18.39% and have 3.93 lakh existing warrants, would each rise to a 19.79% stake if all warrants convert. The board also approved a new ESOP 2025 scheme covering up to 6 lakh equity shares, and increased authorised share capital from ₹20 crore to ₹22 crore. An EGM is scheduled for October 18, 2025 to seek shareholder approval.
This is a significant equity dilution event — the ₹98.78 crore warrant issue could expand the share base by roughly 15% if all warrants are exercised, with promoters further consolidating control. Short-term stock price may face pressure from dilution overhang, but the capital raise signals confidence from insiders (promoters taking 15.4 lakh warrants) and provides growth funding.