Allotment of 28333333 convertible share warrants at an issue price of Rs. 12/- per warrant
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors has approved the allotment of 28,333,333 convertible warrants at Rs. 12 per warrant to 35 non-promoter investors. The company received Rs. 8.5 crore (approximately Rs. 8,49,99,999) as 25% upfront subscription money (Rs. 3 per warrant). Each warrant is convertible into one fully paid-up equity share of face value Rs. 10 each, upon payment of the remaining Rs. 9 per warrant. The issue price complies with SEBI ICDR Regulations floor price requirements. All allottees are individual investors in the non-promoter category. No specific purpose for the funds raised has been disclosed in this filing.
The issuance dilutes existing shareholder equity but brings in fresh capital. The warrants represent potential future dilution when converted to equity shares. The small individual investor base suggests no immediate institutional validation of the company's prospects.