Board approves preferential allotment of 8.33 lakh shares at Rs 180

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

+0.2%Reaction day

₹256.55

prior close

₹261.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.5%+1.7% vs market

Iron & Steel Products peers, median of 104sector-0.6%+0.7% vs sector

On the reaction day the stock moved 1.7 pts more than Nifty Microcap 250 and 0.7 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

Stock

+3.1

10m

+2.3

15m

+2.3

30m

+0.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.2-1.5+1.7-0.6+0.7

Next day

-5.2-1.2-4.0-0.4-4.8

-6.5-2.8-3.7-2.4-4.1

-11.1-1.8-9.4-1.7-9.4

-11.7-2.0-9.7-1.9-9.8

-17.0-3.3-13.7-3.1-13.9

-20.8-2.0-18.8-2.7-18.1

15d

-24.0-3.9-20.0-4.3-19.7

-20.8-10.7-10.1-11.5-9.3

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UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 104Pending

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

AI summary

Board on Sept 23, 2026 approved allotment of 8,33,331 equity shares at Rs 180 each (face value Rs 10, premium Rs 170) on preferential basis, raising about Rs 15 crore from 5 allottees. Promoter group entities Hanuman Freight and Skyrise Mercantile got 6,66,666 shares (Rs 12 crore). Non-promoters Jay Bharat Mehta, J B Mody Enterprises LLP, and SNS Ventures LLP got 1,66,665 shares (Rs 3 crore). Lock-in applies per SEBI rules. Convertible warrants were not issued as funds were not received from one allottee.

Likely market impact

Capital infusion of about Rs 15 crore signals promoter confidence; share dilution of 8.33 lakh shares; warrants portion cancelled.