the company has allotted 6,36,942 Equity shares upon the Conversion of 6,36,942 warrants into fully paid-up equity shares to M/s Soon N Sure Holdings Limited
PICCADIL · price
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On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 3.4 pts less than its Breweries & Distilleries peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Piccadily Agro Industries has allotted 6,36,942 fully paid-up equity shares after converting an equal number of warrants held by Soon-N-Sure Holdings Limited, a promoter group entity. The conversion was done at Rs. 785 per share (Rs. 10 face value plus Rs. 775 premium), bringing in roughly Rs. 50 crore to the company. As a result, the company's issued and paid-up capital has increased from 9,78,60,769 shares (Rs. 97.86 crore) to 9,84,97,711 shares (Rs. 98.50 crore). The newly allotted shares will rank equally with existing shares for dividends and voting rights.
This is a promoter-driven warrant conversion, which strengthens the company's equity base by about Rs. 50 crore without any dilution from external investors. It signals continued promoter confidence and commitment to the business, though it slightly expands the share count.