Announced Fri, 24 Jul · 20:00 IST
Board approves preferential issue worth about Rs 99 crore, hikes capital
Fund Raising View source PDF
Price
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Price reaction · full curve
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AI summary
Board approved raising authorized capital from Rs 7 crore to Rs 17 crore. Approved preferential issue of 3,48,837 warrants (Rs 21 crore) to promoter group at Rs 602 each and 12,99,143 equity shares (Rs 78.21 crore) to 50 non-promoter public investors at Rs 602 each. Total raise about Rs 99.21 crore, subject to shareholder approval. Warrants convertible within 18 months with 25 percent upfront.
Likely market impact
Significant equity dilution expected from preferential issue. Promoter group also participating via warrants. Shareholder approval pending.