Disclosure under Reg 29(1) of SEBI SAST Reg. 2011 from Syamali Security and Consultant Private Limited
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Afloat Enterprises Limited (formerly Adishakti Loha and Ispat Ltd) informed BSE that Syamali Security and Consultant Private Limited, a non-promoter entity, has acquired 20,00,000 convertible warrants on a preferential basis, representing 25% of the total 80 lakh warrants allotted by the company. The acquisition was completed on May 8, 2025, and these warrants, upon conversion, will rank pari-passu with existing equity shares. Prior to this acquisition, Syamali Security held no shares or warrants in the company. The company's total equity share capital remains at 45,58,000 shares of Rs. 10 each (Rs. 4.56 crore). If all warrants are converted, Syamali Security would hold a 25% stake in the fully diluted share capital.
This preferential allotment introduces a significant new shareholder holding 25% on a fully diluted basis, which could lead to equity dilution for existing shareholders upon warrant conversion. It signals a change in the company's ownership structure but does not directly affect share price in the short term unless the warrants are exercised.