Dhani Services to Raise ₹406.35 Crore Through Warrants

Dhani Services announced on Tuesday that its board of directors has approved raising up to ₹406.35 crore through the issuance of warrants.

The company disclosed the decision in a regulatory filing, outlining plans to issue up to 4.5 crore warrants that can be converted into an equivalent number of fully paid-up equity shares.

Details of the Warrant Issuance

Each warrant will be priced at ₹90.3, including a premium of ₹88.3 per share. The issuance is targeted at the company’s promoter group entities, following regulatory norms, and is subject to necessary approvals.

Valerian Real Estate Pvt. and Calleis Infracon Pvt., both part of Dhani Services’ promoter group, are set to receive 2.25 crore warrants each. These convertible warrants aim to strengthen the company’s financial position and support its growth objectives.

Q2 FY 2025 Performance Highlights

Dhani Services reported a significant turnaround in its financial performance for the quarter ended September 30, 2024. The company posted a net profit of ₹15.91 crore, compared to a net loss of ₹105.49 crore in the corresponding quarter of the previous year.

Revenue from operations also saw an uptick, to ₹102.63 crore in Q2 FY25 from ₹98.58 crore in the same period last fiscal.

Stock Performance and Share Holding Patterns 

On January 1, 2025, Dhani Services share price rose by 0.30%, reaching ₹93.05 at 11:10 AM (IST). According to BSE data, the stock recorded a trading volume of 0.27 lakh shares, resulting in a turnover of ₹25.06 lakh.

As of September 30, 2024, promoters held a 29.14% stake in Dhani Services, while Foreign Institutional Investors (FIIs) owned 19.21%. Domestic Institutional Investors (DIIs) held a 1.52% stake in the company.

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