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Awaiting price reaction for this filing.
Valiant Communications Limited has sent a Postal Ballot Notice seeking shareholder approval to issue up to 6,00,000 Fully Convertible Warrants on a preferential basis to six allottees in the 'Public' category at Rs. 768 per warrant, aggregating up to Rs. 46.08 Crores. Each warrant is convertible into one equity share of Rs. 10 face value within 12 months, with 25% payable upfront and 75% on conversion. Notable allottees include Mr. Shankar Sharma (50,000 warrants), Niveshaay Hedgehogs Fund (1,00,000), Niveshaay Sambhav Fund (1,00,000), and Radiant Global Fund-Class B Participating Shares (3,00,000). The proceeds are intended for working capital, business expenses, and general corporate purposes (capped at 25%). E-voting runs from October 19, 2025 to November 17, 2025, with results to be announced on or before November 19, 2025.
This is a dilutionary capital raise of roughly Rs. 46 Crores that will expand the share base by about 5.24% on a fully diluted basis, reducing promoter holding from 40.70% to 38.68%. Promoters are not participating, so existing public shareholders will see their proportionate stake fall. The warrants must be converted within 12 months and are subject to SEBI lock-in, while the funds raised should support working capital and growth if approved.