Please find attached heerwtih the Outcome of Meeting of Fund Raising Committee of Ashika Credit Credit Capital Limited, held today, i.e. Thursday, 10th April, 2025. The meeting commended ....
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Ashika Credit Capital's Fund Raising Committee, at its meeting on April 10, 2025, approved the allotment of 32,27,700 equity shares upon conversion of an equal number of convertible warrants held by non-promoter allottees. The issue price is Rs. 306 per share (face value Rs. 10, premium Rs. 296), with the company receiving Rs. 74.07 crore as the balance 75% subscription amount from the warrant holders. Allotments were made to 134 non-promoter investors on a preferential basis. After this conversion, 19,14,500 warrants from the original 95,31,000 allotted in October 2024 remain pending for conversion. The paid-up equity share capital now stands at Rs. 36.33 crore, comprising 3,63,35,500 equity shares of Rs. 10 each.
This is a pre-scheduled conversion of warrants into shares and does not bring fresh capital into the company beyond the already received warrant amounts. Shareholders may see modest dilution from the new shares being listed, but no new equity dilution risk beyond what was already priced into the original warrant issuance in October 2024.