Please find enclosed herewith the Outcome of Fund Raising Committee of Ashika Credit Capital Limited.
ASHIKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
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 Rs. 296 premium), allotted to 21 Non-Promoter allottees on a preferential basis. The company received Rs. 32.39 crore, representing 75% of the issue price. With this tranche, 90,28,000 out of the 95,31,000 warrants originally issued on October 28, 2024 have been converted into equity shares, with only 5,03,000 warrants pending conversion. The paid-up equity share capital has increased to Rs. 37.75 crore, comprising 3,77,47,000 equity shares of Rs. 10 each. The new shares will rank pari passu with existing equity shares.
This is the third and nearly final tranche of warrant conversions, increasing the company's share capital and potentially diluting existing shareholders slightly. The conversion signals continued promoter and investor confidence in the company. Pending warrant holders still have the right to convert by paying the remaining 75% of the issue price.