Conversion of 15,00,000 warrants into equity shares of the Company.
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Ambo Agritec Ltd has converted 15,00,000 warrants into equity shares at an issue price of ₹30 per share (face value ₹10 + premium ₹20). The sole allottee is the Managing Director and Promoter, Umesh Kumar Agarwal, who paid ₹3.375 crore as the balance 75% of the warrant price in cash. Following this conversion, the company's paid-up equity capital has risen to ₹16.98 crore, comprising 1.69 crore fully paid-up shares of ₹10 each. This conversion is part of a larger preferential warrant issue originally allotted on June 20, 2024. A total of 67,12,000 warrants (55 lakh from promoters and 12.12 lakh from non-promoters) are still pending conversion.
The conversion causes minor dilution but reflects promoter commitment as the MD himself is the allottee. However, 67.12 lakh warrants remain pending conversion, which could lead to further dilution and potential share price pressure when exercised.