Ashish Kacholia allotted over 11 lakh convertible warrants of this NBFC company. Do you own?
- Ashish Kacholia has been allotted 11,11,111 share warrants of SG Finserve at an issue price of ₹450 per warrant on preferential basis.
Ace investor Ashish Kacholia has invested a significant amount in SG Finserve Ltd, a supply chain financing solutions provider, by way of preferential allotment of fully convertible warrants.
Kacholia has been allotted 11,11,111 share warrants of SG Finserve at an issue price of ₹450 per warrant on preferential basis. SG Finserve is a Non-Banking Finance Company (NBFC) with a market capitalisation of more than ₹2,400 crore.
The allotment committee of the Board of Directors of SG Finserve on October 25 approved the allotment of 1 crore Fully Convertible Warrants to persons belonging to promoter and non-promoter category each carrying a right to subscribe to one equity share per Warrant, the company said in a regulatory filing on Friday.
The warrants have been issued for cash of Face Value of ₹10 each, at an issue price of ₹450 per Warrant on preferential basis upon receipt of 25% of issue price from the allottees, the company statement added.
The allottees include Promoter Rohan Gupta, and Non-Promoters Kitara PIIN 1103, Ashish Kacholia, RBA Finance and Investment Company, Marigold Partners, AGDG Enterprises LLP and Anubhav Gupta Enterprises LLP.
“The above warrants entitle the allottee to apply for and get allotted equal number of equity shares for each warrant held by them on payment of balance 75% of the issue price within 18 months from the date of allotment of these warrants,” said SG Finserve.
The equity shares issued upon conversion of the warrants so issued shall rank pari passu to the existing fully paid-up equity shares of the Company and will be listed on BSE, it added.
SG Finserve is already an Ashish Kacholia portfolio company as the ace investor already held 6,38,366 equity shares, or 1.14%, stake in SG Finserve as of September 2024, according to the latest shareholding pattern of the company.
The total promoter shareholding in the company stood at 48.38%, while the public shareholding was at 51.62% at the end of September quarter.
The issue of up to 1 crore fully convertible warrants on a preferential basis was approved by the board of directors of SG Finserve on September 5, along with an increase in the authorized share capital to ₹70 crore from ₹60 crore, which will be divided into 7 crore equity shares of ₹10 each.
These resolutions were passed by the company’s shareholders through postal ballot on October 7.
SG Finserve Stock Price
SG Finserve has failed to give any significant returns this year. The NBFC stock is down over 13% in one month and more than 9% down year-to-date (YTD). In the past one year, SG Finserve shares have fallen 15%, but have given multibagger returns of over 129% in two years and a staggering 2,500% returns in three years and 16,000% returns in five years.
At 12:10 pm, SG Finserve shares were trading 0.25% lower at ₹443.00 apiece on the BSE.
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