outcome of board meeting
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Anand Rayons Ltd's board, at its meeting on May 12, 2025, approved the conversion of 18,36,333 warrants into an equal number of equity shares of Rs. 10 face value. The shares were allotted at Rs. 78 each (including a premium of Rs. 68 per share) to 60 allottees in the Non-Promoter, Public Category on a preferential basis. The company received the balance 75% amount aggregating to Rs. 10.74 crore (at Rs. 58.50 per warrant) upon exercise of conversion rights. Following this allotment, the company's paid-up equity capital has risen to Rs. 20.21 crore, comprising 2,02,19,054 equity shares. Around 36.28 lakh warrants remain outstanding and may still be converted into equity within 18 months from the original February 19, 2025 allotment.
Existing shareholders face mild equity dilution as new shares are issued to public-category allottees, though the company has strengthened its capital base by receiving over Rs. 10.74 crore in fresh funds. Further dilution remains possible if the remaining 36.28 lakh warrants are also converted in the coming months.