Intimation of "In-Principle" approval received from Bombay Stock Exchange for issue and allotment of 4887356 Equity Shares and 9312364 Share Warrants to be issued on a preferential basis
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Awaiting price reaction for this filing.
Thrive Future Habitats Ltd (earlier referred to as Ador Multi Products Limited) has received BSE's in-principle approval to issue 48,87,356 equity shares and 93,12,364 fully convertible warrants on a preferential basis. Both shares and warrants carry a face value of Rs. 10 each and will be issued at a price of not less than Rs. 31.41 per security, which is roughly 214% above face value. All allotments are being made to Non-Promoters. If all warrants are eventually exercised, the company could raise around Rs. 44.6 crore in total at this floor price.
This is a dilution event for existing shareholders since new equity and warrants are being handed out to Non-Promoters. However, the issue price is well above face value, so it is not a distress sale. Shareholders should watch for the next filings around actual allotment and use-of-funds details.