Allotment of 312500 equity shares pursuant to exercise of warrants allotted on preferential basis
Awaiting price reaction for this filing.
Omega Interactive Technologies has allotted 312,500 equity shares of Rs. 10 face value each to Mr. Jayesh Amrutlal Shah upon exercise of warrants originally issued on a preferential basis on February 23, 2024. The company received Rs. 3 crore (Rs. 3,00,00,000) from the warrant holder at the issue price of Rs. 128 per warrant. As a result, the company's paid-up equity share capital has increased from Rs. 1.60 crore (15,99,432 shares) to Rs. 1.91 crore (19,11,932 shares). The original allotment in 2024 involved 20,91,249 warrants, of which only 312,500 have been converted so far.
This is a partial conversion of previously issued warrants, resulting in modest equity dilution (~19.5% increase in share count) and Rs. 3 crore of fresh capital inflow for the company. Shareholders should note that additional warrant conversions from the remaining 17,78,749 warrants are still pending and could lead to further dilution in the future.