W S Industries (I) Limited has informed the Exchange about Preferential issue
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On the reaction day the stock moved 1.1 pts more than Nifty Microcap 250 and 2.0 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board of W.S. Industries approved a preferential issue comprising 1.65 crore equity shares at Rs. 100 each (face value Rs. 10, premium Rs. 90), raising Rs. 165 crores from non-promoters including FPIs M7 Global Fund and Vikasa India EIF I Fund. Additionally, 2.75 crore convertible warrants were approved at Rs. 100 each, potentially raising another Rs. 275 crores, with 25% payable upfront and the rest on conversion within 18 months. Warrants are being issued to a mix of non-promoters and promoter/promoter group entities. The company also increased its authorized share capital from Rs. 100 crores to Rs. 125 crores and fixed an EGM on 25th July 2025 to seek shareholder approval.
Existing shareholders will face significant dilution if all warrants are converted, potentially expanding the equity base by up to 4.4 crore shares. The involvement of foreign portfolio investors signals institutional interest, but the promoter's participation via warrants (with deferred payment) suggests confidence without immediate cash outflow.