AGRIBIO SPIRITS LIMITED INFORMED BSE REGARDING ALLOTMENT OF 3,60,000 EQUITY SHARES PURSUANT TO CONVERSION OF WARRANTS INTO EQUITY TO NON PROMOTER ON PREFERENTIAL BASIS
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Awaiting price reaction for this filing.
On 17 May 2025, the board of Agribio Spirits approved the allotment of 3,60,000 equity shares to Hemant Sarvaiya (a non-promoter) upon conversion of equal number of fully convertible warrants. These warrants were originally issued on 14 October 2024 as part of a larger tranche of 22,25,000 warrants at Rs. 51 per warrant (face value Rs. 10, premium Rs. 41). This is the first partial conversion, representing about 16% of the total warrants issued, with 18,65,000 warrants still outstanding (exercisable within 18 months from original allotment). After this allotment, the company's paid-up equity capital has risen to Rs. 10.88 crore, comprising 1,08,84,237 shares of Rs. 10 each. The issue price was determined as per the valuation formula under Regulation 164 of SEBI ICDR Regulations.
This is a routine, small-cap preferential conversion (worth roughly Rs. 1.84 crore) and is mildly dilutive but not material to existing shareholders. The fact that warrants are being slowly converted suggests steady, phased equity infusion from a non-promoter investor rather than a sudden capital event.