Allotment of Warrants on Preferential basis
Price
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On the reaction day the stock moved 7.4 pts more than Nifty Microcap 250 and 9.3 pts more 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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Prospect Consumer Products has allotted 7,00,000 convertible warrants on a preferential basis to promoter and promoter group members at ₹100 per warrant (face value ₹10 + ₹90 premium), raising up to ₹7 crores. The allottees are Vimal Sureshbhai Mishra (2.5 lakh), Priyanka Vimal Mishra (2 lakh), and Prakash Mishra (2.5 lakh). The company has received the minimum 25% warrant subscription price, and the warrants must be converted into equity shares within 18 months (by June 7, 2027) or the upfront amount will be forfeited. After conversion, promoter group holding will rise from 47.06% to 52.48% of the expanded share capital. The document also notes that 11,75,000 warrants from an earlier April 2024 allotment have been progressively converted over 2024-2025.
This is a capital infusion entirely from the promoter family, signalling their continued commitment to the business; once converted it will dilute non-promoter shareholders from 52.94% to 47.52% and modestly boost the stock's equity base on the BSE SME platform.