OUTCOME OF BAORD MEETING
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Balgopal Commercial's board approved the conversion of 23,38,000 convertible warrants into equity shares at Rs. 60 per share (Rs. 10 face value + Rs. 50 premium). The warrants were originally allotted on January 20, 2025 on a preferential basis to promoter Sandeep Jindal, who paid the remaining 75% amount of Rs. 10.52 crore to exercise the conversion. As a result, the promoter's stake rises from 6.88% to 16.25%, and total paid-up equity capital increases from 2,09,10,000 to 2,32,48,000 shares. A total of 2,62,000 warrants held by the same allottee remain outstanding and can still be converted within 18 months of the original allotment date.
The conversion brings in Rs. 10.52 crore of fresh capital into the company and increases the promoter's holding to 16.25%, signalling promoter confidence and commitment. Existing shareholders face dilution of around 11.2% from this tranche, with further minor dilution possible if the remaining 2,62,000 warrants are also converted.