Board approves Rs 93.15 crore fund raise via warrants on preferential basis

Fund Raising View source PDF Explain this filing

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

+5.5%Reaction day

₹10.98

prior close

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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

+5.3+0.0+5.2+0.0+5.3

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-20.9-2.4-18.5-3.7-17.2

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 raising up to Rs 93.15 crore via issue of 6.21 crore convertible equity warrants at Rs 15 each (Rs 14 premium) on preferential basis to 53 public investors. Allottees pay 25 percent upfront, 75 percent on conversion within 18 months. Subject to shareholder approval at EGM on Aug 20, 2026. Also approved regularization of two independent directors and new MOA and AOA under Companies Act 2013.

Likely market impact

Potential dilution for existing shareholders as 6.21 crore warrants may convert to equity. Stock may react to warrant pricing and identity of allottees.