Dear Sir, We are enclosing herewith an intimation about an allotment of equity shares on conversion of warrants.
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Awaiting price reaction for this filing.
Aveer Foods Ltd has allotted 2,26,087 fully paid-up equity shares of face value Rs. 10 each at an issue price of Rs. 575 per share (including a premium of Rs. 565) to promoter Mr. Rajkumar Hukmichand Chordia upon exercise of warrants. This is part of the 4,52,174 warrants issued on a preferential basis to promoters on 20th March 2025, of which the balance 2,26,087 warrants remain to be converted. The total issue amount is approximately Rs. 13 crore. Post-allotment, the company's paid-up equity capital has increased from Rs. 4,02,82,520 to Rs. 4,25,43,390.
The conversion increases the promoter group's shareholding and dilutes other shareholders marginally. Since the allotment is at a significant premium to face value and is to a promoter, it signals promoter confidence and brings in ~Rs. 13 crore of capital into the company, though it does result in equity dilution.