NSE lists 4.05 million preferential shares from warrant conversion
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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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NSE approved the listing of 4.05 million new equity shares of Re 1 each, issued on conversion of preferentially issued warrants. Trading began on October 26, 2026. Two lots of 2.025 million shares each are locked in until April 30, 2028 and April 29, 2028.
The new shares increase the company’s share count and may dilute existing shareholders, while the lock-in restricts near-term selling.