Kiri Industries: the latest shareholding at the end of Q3FY18.
Interesting to note that with recent conversion of warrants by the promoters , the promoter shareholding has increased from 37.68% to 42.62%.
However there are pending warrants issued to the public to the tune of 2,04,90,262 warrants which at the end of conversion will lead to the dilution of promoter holding to 26.99%.
As per Q2 FY18 shareholding pattern, the pending public warrants were 1,45,93,620. Why has the company issued around 60 lakh warrants to nonpromoters in the recent quarter when the company is doing well in a favourable sector scenario?
Any comments on this?