Announced Mon, 20 Apr · 19:43 IST
Allotment of 31.75 Cr Convertible Warrants on Preferential Basis
Fund Raising View source PDF
STEELXIND · price
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Price reaction · full curve 14 horizons · vs prior close
+6.8%1-day move
₹9.70
prior close
₹9.88
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.9-0.6-1.4-0.3+6.8+9.1+2.6+2.9+3.1+3.1+8.0+3.3+36.5+23.2
Up moveDown movePending
AI summary
Steel Exchange India allotted 31,74,60,300 convertible equity warrants at Rs. 9.45 each (face value Re. 1, premium Rs. 8.45) to two non-promoters—India Coke and Power Pvt Ltd and IMR Steel Pvt Ltd (15.87 cr warrants each). Total issue size ~Rs. 300 cr; 25% (Rs. 74.99 cr) received upfront. Warrants convertible into equity within 18 months on payment of balance 75%. Lock-in as per SEBI ICDR rules. No immediate change in paid-up capital.
Likely market impact
Potential equity dilution once warrants convert within 18 months. Rs. 300 cr preferential raise from two non-promoter entities; full cash inflow depends on conversion.