The Company received In - Principle approval for issuance of 4014280 equity shares, 22321421 warrants convertible into equity shares and 4414285 equity shares against conversion of loan ....
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Raconteur Global Resources Ltd has received BSE's in-principle approval for issuing securities to non-promoters on a preferential basis at a price not less than Rs. 14 per share (face value Rs. 10). The issuance includes 40.14 lakh equity shares, 2.23 crore warrants convertible into equal equity shares, and 44.14 lakh equity shares against conversion of a loan worth Rs. 6.18 crore. If all warrants are exercised, the total potential share dilution exceeds 3.07 crore shares. The warrants represent a significant potential cash infusion (up to ~Rs. 31.25 crore) depending on exercise. The loan-to-equity conversion will reduce the company's debt burden by Rs. 6.18 crore.
This preferential allotment will lead to substantial dilution for existing shareholders, with up to 3+ crore new shares potentially entering the market. While the loan conversion strengthens the balance sheet by reducing debt, the large warrant component could pressure the stock if exercised. Investors should watch for further announcements on pricing, allotment dates, and identity of allottees.