Allotment of 22,00,230 Fully Convertible Warrants as per enclosed disclosure
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Shree Marutinandan Tubes Ltd has allotted 22,00,230 fully convertible warrants at Rs. 103 per warrant (face value Rs. 10 each) on a preferential basis to 8 individuals from the non-promoter public category. Each warrant entitles the holder to one equity share, with 25% upfront payment already received and the balance 75% due within 18 months. The total potential issue size is approximately Rs. 22.66 crore, with about Rs. 5.66 crore already received as upfront payment. There is no immediate change in paid-up share capital; dilution will only occur upon warrant conversion into equity shares.
This is a capital-raising move to fund growth initiatives, but shareholders should note potential future equity dilution of up to 22 lakh shares if all warrants are converted. With warrants placed only with a small group of individuals rather than institutional investors, the raise appears modest and targeted, and the stock may react cautiously given the preferential nature of the issue.