I guess they have done it at a price of 120+ just that the warrants conversion is not happening due to share price not catching up.
Promoters hold > 70% of the stake.
Sadhana was trading at 120-130 odd levels - guess 3-4 months back and they gave stock bonus pushing the price to 99, then the market corrected a bit thereby pushing it back to 70 odd levels.
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