The Board of the Directors of the Company in its meeting held today i.e., Monday, June 01, 2026, has inter-alia, considered and approved the issuance of Convertible Warrants along with ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 6.1 pts less than Nifty Microcap 250 and 5.4 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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The board approved increasing the company's authorized share capital from Rs. 15 crore to Rs. 25 crore. It also cleared the issuance of up to 60 lakh convertible warrants at Rs. 370 each (including a Rs. 360 premium), raising up to Rs. 222 crore on a preferential basis. The warrants will be allotted to 72 investors — 32 lakh to the promoter group and 28 lakh to non-promoter entities, including several companies and HUFs. Each warrant is convertible into one equity share within 18 months, with 25% payable upfront and the balance 75% on conversion. Shareholders will vote on this at an EGM scheduled for July 15, 2026.
Existing minority shareholders face significant dilution — on full conversion, the promoter group's stake will jump to roughly 82% of the expanded equity, with promoter Sunita Rani alone holding nearly 40%. Retail investors should factor in this large upcoming dilution and watch closely for the stated use of the Rs. 222 crore being raised.