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Latest filing: 2026-10-19 18:08
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1 announcement match the current filters (relevance ≥ 5).
Marco Cables approves ₹20.13 Cr preferential warrant issue at ₹31.95 per share
Marco Cables & Conductors Limited's board has approved the issuance of up to 63,00,000 fully convertible warrants at ₹31.95 per warrant, raising up to ₹20.13 Cr. The total proposed fundraise represents approximately 31% of the company's current market capitalization of ₹65 Cr. An upfront payment of 25% (₹7.9875 per warrant, totaling ₹5.03 Cr) is payable on subscription, with the remainder due upon exercise within 18 months. Following full conversion, total outstanding shares will expand from 1,86,99,000 to 2,49,99,000, bringing promoter shareholding down from 72.81% to 65.26%.
Confidence: HIGH
What changedThe board approved a ₹20.13 Cr preferential issue of convertible warrants to promoters and non-promoter investors.
Why it mattersThe fundraise injects capital into a business with ₹59 Cr of debt and high working capital requirements, representing ~54% of its net worth (₹37 Cr) and ~31% of its market cap.
Total fundraise amount: Rs. 20,12,85,000Issue price per warrant: Rs. 31.95Upfront payment (25%): Rs. 5,03,21,250Warrants to be issued: 63,00,000Fundraise vs Market Cap: ~31%Fundraise vs Net Worth: ~54%
📅 Short termApproval at the November 18, 2026 EGM will trigger the initial cash inflow of ₹5.03 Cr upon warrant allotment.
📈 Long termIf converted over 18 months, the equity infusion will strengthen net worth from ₹37 Cr, support RDSS-related working capital needs, and potentially reduce the debt-to-equity ratio from 1.59.
⚠ Risk flags
- Equity dilution of ~25.2% on post-issue capital (share count rises from 1.87 Cr to 2.50 Cr)
- Conversion risk if stock trades below the warrant exercise price during the 18-month window
Key Highlights
Proposed preferential issue of up to 63,00,000 convertible warrants at ₹31.95 per warrant to raise up to ₹20,12,85,000
Upfront receipt of 25% amounting to ₹5,03,21,250 payable upon allotment
Conversion window open for a maximum period of 18 months from allotment date
Promoter shareholding to dilute from 72.81% to 65.26% on a fully diluted basis
EGM scheduled on November 18, 2026 to seek shareholder approval
👀 What to Watch
Track shareholder voting results at the EGM on November 18, 2026, and monitor company disclosures on the exact end-use of proceeds, particularly toward working capital or debt reduction.
