Announced Wed, 13 May · 19:28 IST

Board Meeting Outcome

Warrants ConvertedFund Raising View source PDF

Price

Loading chart…

▲ 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

+1.1%1-day move

₹0.95

prior close

₹0.95

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+1.1+1.1+1.1+1.1+1.1+0.0+6.3+5.3+4.2-1.1+5.3+4.2+1.1—

Up moveDown movePending

AI summary

Titan Intech's Board approved the allotment of 3.30 crore equity shares upon conversion of convertible equity share warrants. The warrants were originally allotted on November 14, 2024, at Rs. 55 per share (face value Rs. 10 plus premium Rs. 45). Promoter Pinnamaneni Estates received 1.70 crore shares, while public shareholders Wimpey Engineering, Ezemode Consultancy, and Axlis Services received 55 lakh, 50 lakh, and 55 lakh shares respectively. The company notes that face value has now been reduced to Rs. 1, which is why the number of shares allotted is higher.

Likely market impact

This conversion of warrants into equity shares will dilute existing shareholders' stakes. The large share issuance, particularly to a promoter entity, may put short-term downward pressure on the stock price.