For Allotment of 16,20,000 Fully Convertible Equity Warrants on a Preferential basis and Allotment of 31,85,000 Equity Shares of face value of INR 10/- each pursuant to conversion of 31,85,000 ....
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Aviva Industries has allotted 16,20,000 fully convertible equity warrants to one non-promoter allottee (Akash Chandrasinh Bhil) at Rs. 28 per warrant (including Rs. 18 premium) on a preferential basis, marking the fifth such tranche. Separately, 31,85,000 equity shares were issued upon conversion of warrants previously held by two non-promoters, Pruthviraj Jesingbhai Rathod (15,80,000 shares) and Parmar Sanjay Dilipbhai (16,05,000 shares). As a result, the company's paid-up equity capital has increased from Rs. 6.33 crore to Rs. 9.51 crore, expanding the total share count from 63.29 lakh to 95.14 lakh shares — a roughly 50% increase in equity base.
Shareholders should note a meaningful dilution of around 50% in paid-up capital due to warrant conversions, though the new shares were issued at a premium (Rs. 28 vs Rs. 10 face value), bringing in additional capital. The ongoing preferential warrant allotments to non-promoter individuals suggest the company is actively raising funds, which could support growth but may also raise concerns about share price pressure given the small investor base involved.