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Awaiting price reaction for this filing.
The Board of Directors of Valiant Communications, at its meeting on October 16, 2025, approved a preferential issue of up to 6,00,000 Fully Convertible Warrants at Rs. 768 per warrant, potentially raising up to Rs. 46.08 crores. Each warrant is convertible into one equity share of Rs. 10 face value. The proposed allottees include 3 individuals (Shankar Sharma, Rajiv Khanna, Prajesh Maroa) and 3 funds (Niveshaay Hedgehogs Fund, Niveshaay Sambhav Fund, and Radiant Global Fund), with Radiant Global Fund being the largest allottee at 3,00,000 warrants. The issue is subject to shareholder approval via postal ballot. The Board also constituted a Preferential Issue Committee to oversee the process.
If fully subscribed and converted, this could dilute existing shareholders by up to 6 lakh shares, but the cash infusion of up to ~Rs. 46 crores may strengthen the company's balance sheet and fund growth. The stock may see short-term volatility around the issue price benchmark of Rs. 768.