Announced Mon, 20 Jul · 21:12 IST
Board approves preferential issue of convertible warrants worth Rs 57.59 cr
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-4.4%1-day move
₹117.13
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₹124.00
base price
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AI summary
Swastika Investmart's Board approved issuing up to 90.5 lakh convertible warrants at Rs 63.64 each, totaling about Rs 57.59 crores on a preferential basis. Each warrant converts into one equity share (face value Rs 2) within 18 months, with 25 percent payable upfront. Promoter group members (Sunil, Anita, Parth, Devashish Nyati) will get around 25.5 lakh warrants. Non-promoter allottees include several LLPs and individuals. Subject to shareholder approval.
Likely market impact
Potential equity dilution over 18 months as promoter and select investors convert warrants into shares. Awaiting shareholder nod.