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. 2nd May, 2025.
ASHIKA · price
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Ashika Credit Capital Ltd's Fund Raising Committee, at its meeting on 2nd May 2025, approved the allotment of 4,43,464 equity shares to non-promoter Harsh Jain upon conversion of an equivalent number of convertible warrants. The shares were allotted at an issue price of Rs. 306 each, including a premium of Rs. 296 per share over the face value of Rs. 10. The company received Rs. 10.17 crore (being 75% of the issue price) as the balance conversion amount from the allottee. With this conversion, 94,71,464 of the 95,31,000 warrants originally issued on 28 October 2024 have now been converted into equity shares, and the remaining 59,536 warrants have lapsed/forfeited. The paid-up equity capital of the company has increased to Rs. 38.19 crore comprising 3,81,90,464 fully paid-up equity shares.
The conversion expands the equity base slightly with no fresh capital infusion beyond the warrant exercise price already committed. The forfeiture of 59,536 warrants means the company retains the upfront 25% amount paid on those warrants as income. Minor dilution for existing shareholders given the small size relative to total share count.