Board approves warrant conversion, subsidiary stake sale, and strike-off

Board & Shareholder Meetings View source PDF

Price

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Price reaction · full curve 14 horizons · vs prior close

—1-day move

₹11.28

prior close

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base price

After-mkt

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AI summary

Board allotted 24,99,999 equity shares at Rs. 14 each on warrant conversion to non-promoters, raising about Rs. 2.62 crore. Paid-up capital rises to Rs. 13.28 crore. Subsidiary Rockbase Real Estate sold 49 percent stake to its director Vikas Sharma for Rs. 2.45 lakh, ceasing to be wholly owned. Board also approved voluntary strike-off of dormant subsidiary Trustfield Project and Infra.

Likely market impact

Minor dilution from warrant conversion. Subsidiary restructuring signals group cleanup. May have slight supply impact on stock.