Shares of ace investor Ashish Kacholia-backed Fineotex Chemical are in focus as the company has approved the allotment of 50,00,000 equities following
the conversion of warrants. During Monday's trade, Fineotex Chemical shares opened flat at Ra 22.96 and made a high of Rs 23. Around 3 PM, the specialty chemical manufacturing company's shares traded 0.39 per cent lower at Rs 22.87 on NSE. In an exchange filing, the company said that its board has approved the allotment of 50,00,000 shares of Re 1 face value each upon the conversion of 5,00,000 warrants by Intuitive Alpha Investment Fund PCC, an entity in the non-promoter category. The conversion was finalised upon the receipt of Rs 14.53 crore, representing the remaining 75 per cent of the warrant exercise price. The transaction has increased the company's paid-up share capital to Rs 116.45 crore, resulting in a revised shareholding structure where promoters hold 61.87 per cent and non-promoters hold 38.13 per cent. The company has a market cap of over Rs 2,700 crore, according to BSE data. According to trendlyne data, ace investor Ashish Kacholia holds a 2.59 per cent stake in the company as of September 2025 (Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
