Small-cap stock below ₹100: Dhani Services share price jumps 3% on promoter’s stake raise

Stock Market Today: Small-cap stock below ₹100 Dhani Services gained 3% during intraday trade on Thursday as the promoter raised stakes in the company.

Valerian Real Estate Private Limited in a disclosure on the exchanges said it has acquired a stake in Dhani Services. The acquisition by Valerian Real Estate Private Ltd has been done via a preferential allotment of 2,25,00,000 warrants, convertible into an equivalent number of fully paid-up equity shares of face value of ₹2 each of Dhani Services Limited.

Valerian Real Estate Private Ltd and Persons Acting in Concert (PACs) – Sameer Gehlaut, Inuus Developers Private Ltd, and Calleis Infracon Private Ltd – have acquired stakes in Dhani Services Limited.

The acquirer Valerian Real Estate Private Ltd and PAC before the acquisition held 17,83,28,203 fully paid-up equity shares in Dhani Services. This represented a 28.73% stake (total diluted share/voting capital) held by Valeria Real Estate in Dhani Services.

They acquired 2,25,00,000 warrants each or a total of 4,50,00,000 warrants put together in Dhani Services, as per the company filing. The acquirers thereby have added a 3.38% stake in the company.

The acquirer Valerian Real Estate Private Ltd and PAC post the acquisition of warrants now hold 17,83,28,203 fully paid-up equity shares and 4,50,00,000 warrants in Dhani Services. 

Dhani Services share price movement

Dhani Services share price opened at ₹62.26 on the BSE on Thursday. At the time of opening, Dhani Services' share price was 4.88% higher than the previous day's closing price of ₹59.36. The stock gained further to intraday highs of ₹64.16 which translated to intraday gains of 8%.

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