BSE approves preferential issue of 142,858 convertible warrants
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On the reaction day the stock moved 6.6 pts more than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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BSE granted in-principle approval for preferential allotment of 142,858 warrants to promoters. Each warrant can convert into one Rs 10 equity share at Rs 280, raising Rs 4.00 crore in cash if fully allotted. Allotment remains subject to company and regulatory requirements.
The issue may add up to 142,858 shares and cause dilution if converted, while bringing Rs 4.00 crore of cash into the company.