Announced Mon, 15 Jun · 17:39 IST
Board approves Rs 218.35 cr preferential issue of convertible warrants
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-4.7%1-day move
₹382.00
prior close
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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.