Allotment of 9,60,000 warrants convertible into equal number of shares on preferential basis
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.9 pts less than Nifty Microcap 250 and 3.5 pts less than its Other Agricultural Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Prime Fresh Limited has allotted 9,60,000 convertible warrants to its promoter Mr. Hiren Chandrakant Ghelani on a preferential basis, at an issue price of Rs. 164 per warrant, aggregating to about Rs. 15.74 crore. The promoter has paid 25% of the consideration upfront (around Rs. 3.94 crore), with the balance due at the time of conversion. Each warrant is convertible into one equity share of Rs. 10 face value within 18 months from the date of allotment. Since these are warrants and not shares, the company's paid-up share capital remains unchanged for now. The allotment was approved by shareholders through a postal ballot on May 15, 2025, and BSE had given its in-principle approval on May 27, 2025.
This reflects promoter confidence and a planned capital infusion into the company, which is generally viewed positively. However, shareholders should note that the eventual conversion of these warrants into equity shares will dilute existing shareholdings by 9,60,000 shares.