Board approves 20 lakh shares on promoter warrant conversion

Warrants ConvertedFund Raising View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-1.4%Reaction day

₹39.25

prior close

₹39.07

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%-0.9% vs market

Castings & Forgings peers, median of 21sector+0.2%-1.6% vs sector

On the reaction day the stock moved 0.9 pts less than Nifty Microcap 250 and 1.6 pts less than its Castings & Forgings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Castings & Forgings peers, median of 21Pending

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AI summary

On October 17, the board approved 20 lakh shares at Rs 32 each, including a Rs 30 premium, on conversion of 20 lakh warrants held by promoter Bhargavi Manojbhai Thummar. These warrants were issued preferentially in January 2025. The conversion brings Rs 6.4 crore, with Rs 4.8 crore paid now as the balance 75 percent. Her holding rises from 2.52 percent to 5.03 percent, and the shares carry voting and dividend rights.

Likely market impact

Existing shareholders' percentage ownership falls slightly, but the company receives Rs 6.4 crore overall and the promoter's stake increases.