Asian Energy Services Limited has informed the Exchange regarding allotment of 36,62,702 Equity shares pursuant to exercise of convertible warrants allotted on Preferential Basis.
ASIANENE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Asian Energy Services Limited has allotted 36,62,702 equity shares of Rs. 10 each upon conversion of convertible warrants. The warrants were originally issued on 5th November 2024 at Rs. 335 per warrant, with 25% (Rs. 83.75) paid upfront and 75% (Rs. 251.25) payable upon exercise. The company received Rs. 92.02 crore as warrant exercise price from 28 allottees. Of the 47 lakh warrants issued, 36.62 lakh were converted while 10.37 lakh warrants lapsed due to non-exercise within the 18-month exercise period. Notable allottees include Ashish Kacholia (5.74 lakh shares), Mohit Agrawal (4 lakh shares), and Titagarh Enterprises Limited (6.56 lakh shares). Post-allotment, the company's paid-up capital increased to Rs. 48.61 crore comprising 4.86 crore shares.
The conversion increases the equity base by approximately 8.2%, causing dilution for existing shareholders. However, the exercise price of Rs. 335 per share (vs. face value of Rs. 10) indicates strong investor confidence. The inflow of Rs. 92+ crore strengthens the company's capital position.