Senores Pharmaceuticals Limited has informed the Exchange regarding allotment of 1170000 Convertible Equity Warrants
SENORES · price
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Senores Pharmaceuticals' board has allotted 11,70,000 convertible equity warrants at an exercise price of ₹812 per warrant, aggregating to roughly ₹95 crore. Allottees paid 25% upfront (₹203 per warrant, totalling ~₹23.75 crore) with the remaining ₹609 payable on conversion within 18 months. The warrants were issued entirely to 5 promoter and promoter group entities, with Renosen Pharmaceuticals Private Limited receiving the largest tranche of 7,39,000 warrants. If all warrants are converted, the combined promoter group shareholding would rise from 23.36% to 25.26%. The issue has a premium of ₹802 per warrant over the face value of ₹10.
This is a promoter-group preferential issue, which generally signals insider confidence in the company's prospects. However, the potential ~₹95 crore dilution upon full conversion could weigh on the stock in the near term, and shareholders should monitor conversion activity over the next 18 months.