Kiri Industries: Loan reduction and demand surge

Can someone help me understand the implications of this announcement made by the Company today:

Kiri Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 08, 2016, inter alia, to consider and approve allotment of 12,94,000 equity shares upon Conversion of warrants issued to Mrs. Anupama Kiri, Promoter Group of the Company at issue price of Rs. 136/- per warrant on preferential basis in accordance with SEBI (Issue of Capital Disclosure Requirements) Regulations, 2009.

This will result in increase in promoter holding but how does the price of 136 stand up against the CMP of 184 today. Will the market correct the share price to 136?