outcome of board meeting
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Anand Rayons' board approved the conversion of 18,36,333 warrants into equal number of equity shares at Rs. 78 per share (face value Rs. 10, premium Rs. 68). The company received Rs. 10.74 crore as the balance 75% amount from 60 non-promoter public category allottees. After this allotment, the company's paid-up equity capital increased to Rs. 20.22 crore, consisting of 2,02,19,054 equity shares. About 36,27,667 warrants are still pending conversion, which can be exercised within 18 months from the February 2025 allotment date.
This is a routine warrant-to-equity conversion that increases the share count by about 10%, leading to mild dilution for existing shareholders. The new shares will rank equally with existing shares, and further dilution remains possible if the remaining 36 lakh warrants are also converted.