Announced Wed, 6 May · 16:56 IST

Allotment Of Equity Shares

Warrants ConvertedFund Raising View source PDF

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+4.2%1-day move

₹0.96

prior close

₹0.96

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After-mkt

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AI summary

Titan Intech Ltd's board approved the allotment of 57,00,000 equity shares to 4 allottees through conversion of convertible equity share warrants. The warrants were originally allotted on November 8, 2024, at Rs. 55 per share (face value Rs. 10 + premium Rs. 45). Major allottees include Tricom Impress Private Limited (40 lakh shares), Waxwing Business Ventures Private Limited (10 lakh shares), and two public shareholders Savitha Sundararajan and Sivaraman Sundararajan (3.5 lakh shares each). The company mentions a reduction in face value to Rs. 1 as the reason for the increased share count in the current allotment.

Likely market impact

This is a significant preferential allotment leading to substantial dilution of equity. The warrant conversion at Rs. 55 per share shows the original issue price, but the current allotment price is not specified in the filing.