Warrant issue and proposed acquisition of Satelite Forging
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The board allotted 13,45,29,149 convertible warrants at Rs 2.23 each to promoter and non-promoter investors. The issue is worth up to Rs 30 crore; 25% or Rs 7.50 crore was received, with conversion allowed within 18 months. Paid-up capital is unchanged. It also approved a cash purchase of 62.14% of Satelite Forging at Rs 48.95 per share, making it a wholly owned subsidiary if completed. Satelite reported FY2025-26 turnover of Rs 71.55 crore.
Rs 30 crore can be raised via warrants, with dilution if converted. The acquisition may add scale, but related-party and completion risks remain.