AUDROC allots 7.5 crore convertible warrants to non-promoters at Rs 4 each
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AUDROC Limited's board has allotted 7.5 crore Fully Convertible Equity Warrants to 2 non-promoter allottees on a preferential basis at Rs 4 per warrant, including a Rs 3 premium. Each allottee receives 3.75 crore warrants. The company has received 25 percent of the consideration upfront, as required. Warrants can be converted into equity shares within 18 months. Paid-up share capital remains unchanged until conversion happens.
Future dilution risk: if all 20 crore warrants convert, each allottee would hold 18.16 percent of expanded capital.