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Awaiting price reaction for this filing.
Swojas Foods Ltd's board approved the allotment of 2,59,84,500 convertible warrants at Rs. 16.50 each, totaling Rs. 42.87 crore, to six non-promoter allottees on a preferential basis. The company has already received 25% upfront (Rs. 4.125 per warrant), amounting to Rs. 10.72 crore. The remaining 75% is payable on conversion within 18 months, with each warrant convertible into one equity share of Rs. 10 face value. The largest allottee is OneLife Capital Advisors Limited with 1 crore warrants, followed by the Jhaveri group entities (individuals, HUF, and trading firm) together holding nearly 1 crore warrants.
This is a significant capital raise that could lead to share dilution if all warrants are exercised within 18 months. The stock may see short-term pressure due to potential dilution, though the phased payment structure provides the company with upfront funds without immediate equity dilution.