The share price of Maharashtra-based real estate company DB Realty hit 5% upper circuit. February 9 2022 DB Realty informed the stock exchanges that they will issue 50 million convertible warrants to non-promoter investors.
These warrants will be issued to investors like Rakesh Jhunjhunwala’s own firm RARE Enterprises, Aditya Chandak, KIFS Dealers, Rekha Jhunjhunwala and Abhay Chandak.
As of December 2021 shareholding, the Jhunjhunwala family owns a 2.06% stake in current DB Realty.
DB Realty will issue 10 million warrants to Rekha Jhunjhunwala and 10 million warrants to RARE Enterprises.
These warrants can be converted into shares of the company and can be exercised for a period of 18 months from the date of conversion allotment.
The company’s stock gained 5% after this news. Recently the company’s deal with Godrej Properties worth Rs 400 crore was also canceled.
|52 Week High||121.65|
|52 Week Low||16.75|
|Mkt Cap (Rs. Cr.)||2,959|
|Book Value Per Share||49.98|
|Net Profit 2021 (Rs. Cr.)||-146|
|Debt to equity (2021)||1.36|
|Revenue 2021 (Rs. Cr.)||24|
|Dividend/Share (INR) (Mar 2021)||0.00|