Board approves 98 lakh warrants preferential issue at Rs 102 each

Warrants ConvertedFund Raising View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+0.7%+4.3% vs market

Non Banking Financial Company (NBFC) peers, median of 217sector+0.0%+5.0% vs sector

On the reaction day the stock moved 4.3 pts more than Nifty Microcap 250 and 5.0 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Board approved issuing up to 98,01,000 warrants convertible into equity shares on preferential basis to 7 non-promoter investors at Rs 102 per warrant, totaling about Rs 100 crore. Major allottees are Kotia Enterprises (37.85 lakh warrants) and Paaven Bansal (29.40 lakh warrants). Warrants have 18-month tenor and are exercisable in one or more tranches. Shareholder approval sought via EGM on November 11, 2026.

Likely market impact

Potential dilution if warrants are exercised; equity base could expand by up to 98 lakh shares on full conversion.