Allomtent of Equity Shares upon conversion of Warrants
ARIHANT · price
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Arihant Foundations & Housing Ltd has allotted 6,51,873 equity shares of Rs. 10 face value each at Rs. 480 per share (including Rs. 470 premium) upon conversion of an equal number of convertible warrants. The conversion was triggered after receiving the balance 75% of the issue price (Rs. 360 per warrant) from warrant holders. Among the 7 allottees, promoter Mr. Vimal Lunawath received 1,70,000 shares, while non-promoters including Lotus Family Trust (1,48,437 shares), Mrs. Prerna B Jain (1,00,000 shares), and others received the remainder. The company's paid-up equity capital increased from Rs. 10.21 crore to Rs. 10.86 crore as a result of this allotment.
This dilution increases the equity base by approximately 6.4%, reducing existing shareholders' percentage ownership proportionally. The warrant conversion brings fresh capital of about Rs. 31.29 crore to the company without additional debt.