Please find attached herewith the disclosure regarding Allotment of securities, as approved by Fund Raising Committee of the Company, at their meeting held today, i.e. Wednesday, 30th April, 2025.
ASHIKA · price
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Ashika Credit Capital's Fund Raising Committee approved the conversion of 14,11,500 equity convertible warrants into equal number of equity shares at Rs. 306 per share (including a premium of Rs. 296), allotted to 21 non-promoter investors on a preferential basis. The company received Rs. 32.39 crore, representing the balance 75% of the issue price (the initial 25% was paid in October 2024). This is the third tranche of conversion from the 95,31,000 warrants originally issued on October 28, 2024; 90,28,000 warrants have now been converted and 5,03,000 warrants remain pending. Consequently, the company's paid-up equity share capital has risen to Rs. 37.75 crore, comprising 3,77,47,000 equity shares of Rs. 10 each.
This is a pre-scheduled warrant conversion and does not bring fresh capital beyond what was committed at the time of original warrant issuance; however, it does increase the share count and dilute existing shareholders marginally. Shareholders should note that 5,03,000 warrants are still pending conversion, which could lead to further share issuance in the coming months.