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Awaiting price reaction for this filing.
The board of Afloat Enterprises Limited has allotted 80,00,000 equity shares of Rs. 10 each (at a price of Rs. 12.80 per share, including a Rs. 2.80 premium) upon conversion of 80,00,000 convertible warrants that were originally issued on a preferential basis on March 1, 2025. The company received Rs. 7.68 crore as the balance 75% payment from the warrant holders. Four allottees participated — Alrick Constructions Pvt Ltd, Ispatika International Ltd (promoter group), Syamali Security and Consultant Pvt Ltd, and Pine View Portfolio Consultants Pvt Ltd — each receiving 20 lakh shares. As a result, the paid-up equity capital rises from 45.58 lakh shares (Rs. 4.56 crore) to 1.25 crore shares (Rs. 12.56 crore). There is no change in control, and the new shares will be subject to SEBI lock-in requirements.
This is a dilution event — the share count nearly triples, which may weigh on the stock price in the short term due to increased supply. However, the company has already received the full consideration, strengthening its balance sheet by about Rs. 7.68 crore. No change in management control, but existing shareholders' stake percentage will reduce proportionally.