Pls find outcome of board meeting held on 24.05.2025
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Anand Rayons Ltd approved the conversion of 6,12,667 convertible warrants into equal number of equity shares at Rs. 78 per share (including Rs. 68 premium). The company received Rs. 3.58 crore as the balance 75% payment from warrant holders. Shares were allotted to 21 non-promoter allottees from the public category on a preferential basis. As a result, the company's paid-up equity capital increased to Rs. 20.83 crore, comprising 2,08,31,721 equity shares of Rs. 10 each. About 30,15,000 warrants remain outstanding and can still be converted within 18 months of the original February 2025 allotment.
This is a routine warrant-to-equity conversion that expands the share base by about 3%, leading to mild dilution for existing shareholders. The newly issued shares will rank pari-passu with existing shares, slightly increasing float. No fresh capital risk as the company has already received the funds from warrant holders.