As attached
SUPREMEINF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Supreme Infrastructure India Ltd has completed a large preferential allotment at Rs. 86.94 per share (including a premium of Rs. 76.94), allotting about 3.95 crore equity shares for cash to promoters and non-promoters combined, raising roughly Rs. 343 crores. Additionally, about 2.21 crore convertible warrants were allotted at the same price to promoter and non-promoter entities, bringing in another ~Rs. 192 crores upon conversion. Separately, about 3.16 crore equity shares were issued by converting promoter unsecured loans (~Rs. 235 crores) and lender bank secured loans (~Rs. 39.5 crores). Promoters have also separately infused additional funds through monetization of non-core assets to help resolve the company's debt with lenders. Prominent investors include Ovata Equity Strategies Master Fund, Kitara funds, Trishakti Power Holdings, and lender banks Union Bank, Bank of India, and SBI.
The massive equity infusion and conversion of promoter and bank loans into equity will significantly strengthen the company's balance sheet and aid debt resolution, but the issuance of over 7 crore new equity shares (plus another ~2.21 crore via warrants) will lead to substantial dilution for existing shareholders.