Board approves preferential shares and warrant conversion
ATALREAL · price
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The board approved 11,981,250 preferential equity shares at Rs 16 each, including Rs 14 premium, raising Rs 19.17 crore from 19 non-promoter investors. It also allotted 4.5 million warrants to promoter Vijaygopal Parasram Atal and converted 900,000 warrants into shares after full payment. The remaining 3.6 million warrants require Rs 12 each within 18 months.
Existing holders' ownership percentage will fall. A further 3.6 million shares may be issued if the remaining warrants convert, while the company receives capital.