Promoter converts 20 lakh warrants into equity shares

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

₹39.18

announcement price

In-mkt

timing

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.

Minutes after the announcementfrom the announcement price · no benchmark

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15m

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30m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.4-0.5-0.9+0.2-1.6

Next day

-1.4+0.5-1.9+0.2-1.6

-0.6+1.5-2.2+1.3-1.9

+10.8+1.1+9.8+1.1+9.7

+10.1+0.7+9.4+1.3+8.8

+5.7+1.1+4.6+0.1+5.6

+6.3+1.8+4.5+1.8+4.6

15d

-8.3-0.4-7.9+1.1-9.4

-11.0+1.0-12.0+0.1-11.1

-17.8-5.8-12.1-2.0-15.8

-10.3-8.9-1.4-11.8+1.5

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

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The board approved 20 lakh fully paid equity shares after promoter Bhargavi Manojbhai Thummar converted 20 lakh warrants at Rs 32 per share, including a Rs 30 premium. The promoter paid the remaining Rs 4.80 crore, raising their holding from 2.52% to 5.03%. Of 1.176 crore warrants issued in January 2025, 60 lakh have converted and 57.60 lakh remain pending.

Likely market impact

The new shares dilute existing holders, while the company receives Rs 4.80 crore and the promoter's ownership increases.