Board approves preferential issue of 14 lakh warrants to promoter group
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.2 pts less than Nifty Microcap 250 and 1.8 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Board approved preferential issue of up to 14 lakh fully convertible warrants at Rs 71.30 per warrant, aggregating about Rs 9.98 crore, to promoter group members. Warrants carry 25 percent upfront payment with balance on exercise within 18 months. Allottees: Dharmendra Gor (12 lakh), Neera Gor (1 lakh), and Harsh Gor (1 lakh). Proceeds to fund business expansion in wastewater treatment, renewable energy, and solar thermal. EGM on Nov 18 for shareholder approval.
Promoter group increasing stake; potential dilution for public shareholders if warrants are fully exercised. Signals promoter confidence but adds equity supply.