TRU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
TruCap Finance has filed a monitoring agency report for the quarter ended June 30, 2025, covering its preferential issue of convertible warrants. During the quarter, 60 lakh warrants (held by 4 investors) were voluntarily waived and cancelled, with Rs. 11.06 Crore of upfront consideration forfeited by these investors. The warrant holders walked away because the current share price of Rs. 13.01 is far below the warrant issue price of Rs. 73.75, making conversion uneconomical. Of the original Rs. 48.24 Crore issue, only Rs. 12.06 Crore (25% upfront) was ever received, and the balance Rs. 36.18 Crore remains uncollected. Separately, CARE Ratings has downgraded the company's external credit rating to 'D' (default) from BB+ as of July 18, 2025, and the company is working on repaying 70% (Rs. 49.6 Crore) of Rs. 71.3 Crore in NCD dues, with full repayment targeted by end of October 2025.
This is materially negative for shareholders. The credit rating downgrade to default status, widespread warrant abandonment by investors, and ongoing NCD repayment struggles signal serious financial distress. Existing shareholders face significant risk of further dilution pressure and continued stock price weakness given the company's default-level rating and inability to complete its capital raise.