Board approves Rs 218.35 cr preferential issue of convertible warrants

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-3.2% vs market

Specialty Chemicals peers, median of 93sector+0.0%-2.6% vs sector

On the reaction day the stock moved 3.2 pts less than Nifty Microcap 250 and 2.6 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Specialty Chemicals peers, median of 93Pending

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AI summary

SK Minerals board approved issuing up to 55 lakh convertible warrants at Rs 397 each (incl Rs 387 premium) on a preferential basis, raising up to Rs 218.35 cr. Allotment to 85 investors — 28 lakh warrants to promoter/promoter group and 27 lakh to non-promoters. Each warrant converts to 1 equity share within 18 months; 25% payable upfront, 75% on conversion. EGM set for July 10, 2026. Promoter Sunita Rani's stake moves to 39.8% post full conversion (from 51.14%).

Likely market impact

Dilution risk for existing non-allottees; warrants may convert into equity within 18 months, increasing share count.