Conversion of Warrants
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ASM Technologies has allotted 8,00,000 fully paid-up equity shares after non-promoter warrant holders chose to convert their warrants into shares. The conversion happened at ₹470.70 per share (face value ₹10, premium ₹460.70), bringing in ₹28.22 crore as the balance 75% payment from the allottees. The largest allottee is well-known investor Mukul Mahavir Agrawal, who received 7,62,500 shares, while the remaining 37,500 shares went to five other non-promoter investors. After this allotment, the company's paid-up equity capital stands at ₹12.68 crore, split across 1.26 crore shares. A further 19.11 lakh warrants (mostly held by promoter S Rabindra) are still pending conversion.
This is a pre-scheduled conversion from a March 2024 preferential warrant issue, so it is not a new fundraising event. Shareholders should note a slight equity dilution from the new shares, but the company's cash position gets a boost of ~₹28 crore from the conversion payments.