Outcome of board meeting dated 09.06.2025 regarding conversion of warrants into equity shares
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Anand Rayons Limited has converted 1,76,666 convertible warrants into equal number of equity shares of Rs. 10 face value at an issue price of Rs. 78 per share (including a premium of Rs. 68). The company received Rs. 1.03 crore as the balance 75% amount from the warrant holders. These shares were allotted to 7 non-promoter, public category allottees. After this conversion, the company's paid-up equity capital has increased to Rs. 21.01 crore, comprising 2.10 crore equity shares. About 28.38 lakh warrants are still pending conversion, which the holders can convert within 18 months from the original February 2025 allotment date by paying the remaining 75% amount.
This is a routine warrant-to-equity conversion that slightly dilutes existing shareholders. The new shares will rank equally with existing shares, but the allottee holdings remain small (0.04% to 0.26%), so no major shift in control is expected. The additional capital strengthens the company's equity base marginally.