The Board of Directors of the Company in their meeting held on Wednesday, April 09, 2025 at the registered office of the Company situated at Baid House , IInd Floor, 1, Tara Nagar, Ajmer Road, Jaipur 302006 (Rajasthan) which commenced at 11:30 A.M. and concluded at 12:15 P.M., inter alia approved the allotment of 1,20,06,831 (One Crore Twenty Lakhs Six Thousand Eight Hundred and Thirty One) fully convertible warrants at an issue price of Rs. 15.10/- (Rupees Fifteen and Ten Paise only) each including a premium of Rs. 13.10/- (Rupees Thirteen and Ten Paise Only) per convertible warrants to promoters/promoter group on private placement basis through preferential issue.
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The board of Baid Finserv Limited, at its meeting on April 9, 2025, approved the allotment of 1,20,06,831 (about 1.20 crore) fully convertible warrants to the promoters and promoter group. The warrants are being issued on a private placement/preferential basis at Rs. 15.10 per warrant, which includes a premium of Rs. 13.10 over the face value of Rs. 2. Each warrant can be converted into one equity share of the company at a later date as per the terms of the issue. The total value of the warrant issue works out to roughly Rs. 18.13 crore at the issue price. The proceeds are expected to strengthen the company's capital base and are being brought in entirely by the promoter group.
This is a positive signal of promoter confidence and commitment to the company, as the promoter group is putting in fresh capital. However, once these warrants are converted into equity shares, existing public shareholders may see some dilution of their holding, so investors should watch the conversion terms and timeline closely.