Allotment of 364344 equity shares pursuant to exercise of conversion of warrants allotted on preferential basis
Awaiting price reaction for this filing.
Omega Interactive Technologies has allotted 3,64,344 equity shares (face value Rs. 10 each) to Mr. Saurabh Madhusudan Patel following the exercise of warrants that were originally issued on a preferential basis on February 23, 2024. The company received the balance amount of Rs. 3.50 crore (Rs. 3,49,77,024) from the warrant holder for the conversion. As a result, the company's paid-up equity capital has increased from Rs. 1.91 crore (19,11,932 shares) to Rs. 2.28 crore (22,76,276 shares), a dilution of roughly 19% in the share count. The original warrants were issued at Rs. 128 per share back in February 2024, and this allotment represents part of that preferential issue being converted into actual equity.
This is a routine conversion of previously issued warrants into shares, which increases the share count and dilutes existing shareholders by about 19%. The Rs. 3.50 crore coming into the company strengthens its capital base, but retail shareholders should note the dilution effect on their ownership percentage.