Arihant Superstructures Limited has informed the Exchange about the allotment of Equity Shares upon conversion of Warrants on Preferential Basis under the provisions of SEBI (ICDR) Regulations, 2018.
ARIHANTSUP · price
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Arihant Superstructures Limited has allotted 20,90,000 equity shares of face value Rs. 10 each to 3 warrant holders who exercised their conversion option under a preferential allotment. The shares were issued at a price of Rs. 180.071 per share, with the company receiving the remaining 75% exercise price of Rs. 135.053 per warrant, aggregating to Rs. 28.23 crore. The allottees are non-promoters, led by Monarch Comtrade Private Limited (20,00,000 shares), along with Nikunj Pravin Shah (50,000) and Jignasa Nikunj Shah (40,000). As a result, the company's paid-up equity share count has risen from 4,11,59,991 to 4,32,49,991 shares, a dilution of about 5.1%.
Existing shareholders face a modest dilution of around 5% due to the new share issuance, though the company has raised Rs. 28.23 crore in fresh capital. This is the conclusion of a previously announced preferential warrant issue, so the dilution was largely anticipated by the market.