AUDROC allots 2.5 crore convertible warrants to promoter group
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AUDROC Limited allotted 2,50,00,000 fully convertible equity warrants to Rinkal J Patel of the Promoter Group on a preferential basis at Rs 4 per warrant (including Rs 3 premium). This is the fourth tranche of the issue. The company received 25% upfront; the balance 75% is due on conversion within 18 months. Pre-issue, Rinkal held 19.23% of capital. Assuming full conversion of all 20 crore warrants, his stake would become 12.71%. No change in paid-up share capital for now.
Promoter committing fresh capital signals confidence, but full warrant conversion could dilute existing shareholders. No immediate change in share capital.