Tilaknagar Industries Limited has informed the Exchange regarding the Corrigendum to Outcome of Board Meeting held on July 29, 2025.
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Tilaknagar Industries has filed a corrigendum to its July 29, 2025 board meeting outcome, correcting the pre-preferential shareholding disclosure of one allottee, Bhavini Ajay Shah, who held 15,000 equity shares. The company is issuing up to 1.43 crore equity shares and up to 4.57 crore convertible warrants on a preferential basis at Rs. 382 per share (including Rs. 372 premium), aggregating to approximately Rs. 2,295.63 crores. The equity shares are allocated to 9 investors, while warrants are allocated to 35 investors, with SMALLCAP World Fund being the largest subscriber at Rs. 250.21 crores. Promoter Amit Arun Dahanukar is allotted 80 lakh warrants, and Bhavini Ajay Shah's pre-preferential holding has now been locked in as per SEBI regulations. Warrants carry 25% upfront payment with 75% due on conversion, exercisable within 18 months.
The corrigendum is a procedural correction and does not change the overall size or pricing of the preferential issue. The participation of marquee global investors like SMALLCAP World Fund and several domestic funds signals strong institutional confidence, though the large equity dilution (post-issue promoter holding moves from 13.85% to 13.63% on fully diluted basis) and substantial warrant conversion overhang may weigh on near-term stock sentiment.