Up to 43.92 lakh convertible warrants approved on preferential basis
AMBANIORGO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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At the October 26 EOGM, shareholders approved up to 43,92,500 preferential warrants for nine allottees. Each converts into one Rs 10 share at Rs 100, raising up to Rs 43.93 crore. Allottees pay 25% upfront and 75% within 18 months. Promoter Rakesh Shah receives 30 lakh warrants, lifting promoter holding from 48.94% to 55.33% if all convert. NSE approval is pending. The company also reclassified 70 lakh unissued preference shares into authorised equity shares, keeping total authorised capital unchanged.
Full conversion would dilute existing holdings, increase shares from 53.05 lakh to 96.97 lakh and raise promoter control to 55.33%.