Board approves 125 crore preferential issue of equity warrants to 4 investors

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SAHANA · price

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

+1.8%Reaction day

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prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-1.7%+3.5% vs market

On the reaction day the stock moved 3.5 pts more than Nifty Microcap 250, 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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AI summary

Sahana System board approved issuing 13.16 lakh equity warrants at Rs 950 each to 4 non-promoter investors, raising Rs 125 crore. Allottees: Shrem Investments, Bhavesh Joshi, Ashish Bhutani, and Magnanimous Trade and Finance (largest at Rs 50 cr). Warrants convert to equity shares within 18 months; 25 percent is forfeited if not exercised. Board also appointed Ringkesh Jain as Independent Director for 5 years. Postal ballot Oct 17 to Nov 15.

Likely market impact

Potential dilution of about 10% on full warrant conversion; Rs 125 crore fresh capital raised; new Independent Director joins board.