20 lakh shares allotted to KITARA PIIN on warrant conversion
APOLLOPIPE · price
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Apollo Pipes has allotted 20,00,000 equity shares at Rs 550 each to KITARA PIIN 2401, a non-promoter investor, upon conversion of warrants issued earlier on a preferential basis. The company received the balance Rs 82.50 crore (75 percent of issue price), taking the total warrant issue value to Rs 110 crore. Post-allotment, KITARA holds 4.34 percent (20 lakh shares) in the company, and paid-up equity capital has risen to Rs 46.05 crore from Rs 44.05 crore.
Equity dilution of about 4.5 percent from new shares. Capital raise of Rs 82.50 crore completed. No immediate earnings impact.