Outcome of Board Meeting pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015
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Shakti Press Ltd's board, at its meeting on October 29, 2025, approved revising the list of proposed allottees and reducing the size of a preferential issue of fully convertible equity warrants from 1 crore to 94.75 lakh warrants. Each warrant carries a price of Rs. 27.25 (as per SEBI ICDR Regulation 164), bringing the total issue size to approximately Rs. 25.82 crore. The warrants are convertible into equal equity shares of Rs. 10 face value within 18 months, with 25% upfront payment and the remaining 75% on conversion. There are 21 proposed allottees, all individuals, with the largest allotments going to Deep Ketan Nayak (21 lakh warrants, 16.16% post-issue holding) and Suhagia Bhanubhai Nagjibhai (20.55 lakh warrants, 15.81%).
The preferential warrant issue could lead to equity dilution once warrants are exercised, with the top two allottees together holding over 31% post-conversion. Shareholders should watch for shareholder approval and monitor any potential control shift, as the allottees are mostly new investors with negligible pre-issue holdings.