Penny Stock Below ₹10 to Attract Investor Attention on Monday

Golden Legand Leasing and Finance (GLLF), a non-banking financial company (NBFC), has received significant attention in the market after announcing the allotment of 6,63,51,000 convertible warrants to non-promoter investors.

Key Details

• The allotment was made on March 27, 2026, with ₹21,49,77,240 received as 25% upfront payment from all allottees.
• The warrants provide the right to subscribe to equity shares on a 1:1 basis, with each warrant convertible into one equity share of face value ₹10.
• The warrants were issued at ₹12.96 apiece, including a premium of ₹2.96 per warrant.

Warrant Allotment

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• The preferential allotment was made to 23 non-promoter investors, with Spunwell Technology Private Limited receiving the largest share of 1,06,50,000 warrants worth ₹3,45,06,000.
• Other notable recipients include Mariango Trading Private Limited (35,00,000 warrants), Sandarv Trading Private Limited (40,00,000 warrants), and Ultimate Annex Trading Private Limited (30,70,000 warrants).

Conversion Options

• The warrants can be converted into fully paid-up equity shares at any time within 18 months from the allotment date.
• Holders may exercise the conversion option in one or multiple tranches during this period.
• Any warrants that remain unconverted after 18 months will lapse, and the amounts paid by the holders will be forfeited.

Share Price Trend

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• GLLF has largely remained under pressure in the near term, with a decline of 12.20% in the past five sessions and 21% in a month.
• The stock has also declined 34.77% in six months and 23.12% in terms of year-to-date (YTD).
• However, the NBFC stock has delivered 16% returns in the last one year.