Hindon Mercantile Ltd — Acquires Convertible Warrants in Mufin Green Finance

Expert Analysis:

• Hindon Mercantile Limited, along with its Persons Acting in Concert (PACs), has acquired 76,53,061 convertible warrants (3.72%) in Mufin Green Finance Limited through allotment on March 4, 2026, as disclosed under SEBI takeover regulations.

• Post-transaction, the group’s equity shareholding declined from 54.11% to 45.54% due to dilution, as new shares were issued to other investors. However, including the warrants, the total potential holding increased to 49.26%, indicating continued promoter confidence and strategic capital participation.

• The transaction also led to an expansion in the company’s capital base, with equity share capital rising from ~17.32 crore shares to ~19.81 crore shares, reflecting fresh capital infusion to support business growth.