Allotment for warrants conversion into Equity
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Advait Energy Transitions has allotted 1,04,031 equity shares to 16 non-promoter allottees following the conversion of warrants originally issued on September 6, 2024. Warrant holders paid the remaining 75% consideration of Rs. 1,332 per warrant, bringing in approximately Rs. 13.86 crore to the company. The conversion price was Rs. 1,776 per share, which includes a premium of Rs. 1,766 over the face value of Rs. 10. After this allotment, the company's paid-up equity capital has increased to 1,09,29,738 shares (Rs. 10.93 crore). All allottees are non-promoters with no prior shareholding in the company.
This results in a minor dilution of about 0.95% for existing shareholders, as all new shares went to non-promoters. The company has successfully raised around Rs. 13.86 crore in fresh capital, strengthening its equity base without any new promoter dilution.