To Allot Fully Convertible Equity Warrants on a Preferential basis.
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Awaiting price reaction for this filing.
The Board of Shakti Press Ltd has allotted 39,20,000 Fully Convertible Equity Warrants to 9 non-promoter allottees at Rs. 27.25 per warrant (including a premium of Rs. 17.25), taking the total issue size to roughly Rs. 10.68 crore. The company has received 25% of the consideration upfront as required by SEBI rules, with the remaining 75% due upon conversion. Each warrant can be converted into one equity share of Rs. 10 face value within 18 months at the allottees' option, so paid-up share capital does not change right now. The two largest allottees are Deep Ketan Nayak (21 lakh warrants, ~16% post-issue stake) and Vijyaben Bhanubhai Suhagia (10.25 lakh warrants, ~8%), together likely to hold over 24% on full conversion. Existing promoter holding stood at about 69% (implied), and total potential dilution if all warrants convert is roughly 30% of the expanded capital.
Short-term dilution is nil since warrants are not yet shares, but full conversion would meaningfully dilute existing shareholders. The Rs. 2.67 crore upfront inflow is modest, and the preferential issue at a premium suggests readiness of investors to back the company, though small allottees raise questions about long-term control changes.