Allotment of 221223 equity shares upon conversion of warrants
Awaiting price reaction for this filing.
Omega Interactive Technologies has allotted 2,21,223 fresh equity shares of Rs. 10 face value to Mr. Jayesh Amrutlal Shah, who converted his warrants into shares. The company received Rs. 2.12 crore (Rs. 96 per warrant, being the 75% balance tranche on warrants originally priced at Rs. 128 each). These warrants were issued on a preferential basis back in February 2024. As a result, the company's paid-up share capital has increased from Rs. 2.28 crore (22.76 lakh shares) to Rs. 2.50 crore (24.97 lakh shares), a roughly 9.7% expansion of the share base.
This is a minor dilution event for existing shareholders, increasing the share count by about 9.7%. However, the company has received fresh cash of Rs. 2.12 crore, strengthening its capital base. For retail investors, the stock may see mild downward pressure due to the share count expansion, but the impact is limited given the small size of the company.