Dear Sir, We are enclosing herewith an intimation for allotment of equity shares on conversion of warrants.
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Aveer Foods has allotted 2,26,087 fully paid-up equity shares of face value Rs. 10 each to promoter Mr. Rajkumar Hukmichand Chordia upon exercise of warrants. The shares were issued at Rs. 575 per share (including a premium of Rs. 565), bringing in approximately Rs. 13 crore. This is part of the 4,52,174 warrants originally allotted on a preferential basis on 20th March 2025; the remaining 2,26,087 warrants are still pending conversion. Consequently, the company's paid-up equity capital has increased from Rs. 4,02,82,520 to Rs. 4,25,43,390.
The conversion strengthens the company's capital base by about Rs. 13 crore with promoter participation, signaling insider confidence. The remaining warrants, if converted, could lead to further equity dilution. Minor dilution from this tranche as the promoter already held these warrants.