Corrected ownership figures for proposed preferential warrants
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On the reaction day the stock moved 1.1 pts less than Nifty Microcap 250 and 0.4 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The company corrected ownership figures for a proposed preferential issue of convertible warrants. Fatema Shabbir Kachwala would hold 4,054,200 shares (17.97%) after receiving 7,000,000 warrants; Piyush Jashbhai Patel, 887,100 shares (3.93%) after 1,750,000 warrants; and Sanjay Patel Holdings Private Limited, 3,500,000 shares (1.55%) after 3,500,000 warrants. All other issue terms remain unchanged.
This is only a disclosure correction for a proposed preferential issue. The issue terms are unchanged, and completion of the allotment is not confirmed.