Conversion of Warrants
Price
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Awaiting price reaction for this filing.
ASM Technologies has allotted 10,07,286 fully paid-up equity shares to promoter group members Rabindra Srikantan and Preeti Rabindra upon conversion of warrants originally issued on a preferential basis on 20th March 2024. The shares were allotted at ₹470.70 each, comprising a face value of ₹10 and a premium of ₹460.70, with the promoter group paying ₹35.52 crores (75% of the issue price) to exercise the conversion. Post this allotment, the company's paid-up capital stands at ₹13.68 crores, consisting of 1,36,84,349 equity shares. Additionally, 5,49,698 warrants from other allottees (including promoter S. Rabindra) remain pending conversion, requiring an additional ₹19.39 crores.
This is a positive signal as it shows promoter confidence — promoters are infusing ₹35.52 crores into the company by converting warrants into equity at ₹470.70/share. The expansion of equity base may lead to mild dilution, but the promoter-led capital infusion strengthens promoter holding and signals long-term commitment.