Allotment of Equity Shares upon conversion of Warrants
ARIHANT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Arihant Foundations & Housing Ltd has allotted 2,45,000 fully paid-up equity shares of Rs.10 face value each at Rs.480 per share (including Rs.470 premium) upon conversion of equal number of convertible warrants. The warrant holders paid the balance 75% of the issue price (Rs.360 per warrant) to convert. Mr. Kamal Lunawath, a Promoter, received 1,70,000 shares while Mr. Pranay Marlecha, a Non-Promoter, received 75,000 shares. The company's paid-up equity capital increased from Rs.9.97 crore to Rs.10.21 crore as a result of this preferential allotment.
Dilution of approximately 2.45% for existing shareholders. Promoter holding increased as a key insider converted warrants, which could signal confidence in the company but also increases available floating stock.