Allotment of 221223 equity shares pursuant to exercise of warrants allotted on preferential basis
Awaiting price reaction for this filing.
Omega Interactive Technologies has allotted 2,21,223 equity shares (face value Rs. 10 each) to Mr. Jayesh Amrutlal Shah upon exercise of warrants originally issued on a preferential basis on February 23, 2024. The warrants were convertible at Rs. 128 per share, and the company has received approximately Rs. 2.12 crore from this exercise. The original allotment was for 20,91,249 warrants, meaning this is a partial conversion of about 10.6% of the total warrants issued. Consequently, the paid-up equity capital has risen from Rs. 2.27 crore (22,76,276 shares) to Rs. 2.50 crore (24,97,499 shares).
This is a routine warrant conversion event that brings in Rs. 2.12 crore of capital but also causes modest equity dilution (~9.7% increase in share count). For retail investors, it confirms that the warrant holder is partially exercising their position, which is mildly positive as it validates the Rs. 128 per share valuation agreed upon earlier.