Board approves Rs 93.15 cr convertible warrants preferential issue

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Price reactionminutes from the announcement price · days from the prior close

+5.5%Reaction day

₹10.98

prior close

₹11.58

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+1.3%+4.1% vs market

Iron & Steel Products peers, median of 98sector+1.0%+4.5% vs sector

On the reaction day the stock moved 4.1 pts more than Nifty Microcap 250 and 4.5 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 98Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board approved preferential issue of up to 6.21 crore convertible equity warrants at Rs 15 each (face value Rs 1, premium Rs 14) to 53 investors, raising up to Rs 93.15 crore. 25 percent upfront, 75 percent on conversion within 18 months. Also regularized two independent directors and adopted updated MOA and AOA. EGM scheduled for August 20, 2026.

Likely market impact

Potential dilution of up to 6.21 crore shares if all warrants convert. Existing shareholders may see their stake reduced.