STL Networks Limited has informed the Exchange about Preferential issue
STLNETWORK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
STL Networks Limited is seeking shareholder approval via postal ballot for two resolutions: (1) alteration of Articles of Association to enable warrant issuances, and (2) issuance of 4.5 crore warrants to promoter Twin Star Overseas Limited at Rs. 24 per warrant, aggregating Rs. 108 crore. Each warrant is convertible into 1 equity share (face value Rs. 2 + premium Rs. 22) within 18 months of allotment. The allottee must pay 25% subscription amount at allotment and remaining 75% at exercise. If warrants are not exercised within 18 months, they lapse and subscription amount is forfeited. The relevant date for floor price calculation is April 17, 2026. Voting period runs from April 20, 2026 to May 19, 2026.
This preferential warrant issuance to the promoter will dilute existing shareholders' equity stake. Upon full conversion, the promoter holding will increase significantly, potentially affecting public shareholding norms. The Rs. 108 crore infusion provides capital to the company.