Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 for Allotment of 23,38,000 Equity Shares pursuant to conversion of Warrants allotted on Preferential Basis
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Balgopal Commercial Ltd has allotted 23,38,000 equity shares to promoter Mr. Sandeep Jindal upon conversion of warrants originally issued on January 20, 2025 on a preferential basis. The warrants were issued at Rs. 60 per share (Rs. 10 face value + Rs. 50 premium), and the promoter has now paid the balance 75% (Rs. 45 per warrant), bringing in Rs. 10.52 crore to the company. As a result, the promoter's stake in the company rises sharply from 6.88% (14,38,801 shares) to 16.25% (37,76,801 shares). The company's paid-up equity capital has increased from Rs. 20.91 crore (2,09,10,000 shares) to Rs. 23.25 crore (2,32,48,000 shares). Additionally, 2,62,000 warrants remain outstanding and can still be converted into equity shares within the original 18-month window.
Existing minority shareholders face dilution as the promoter's stake more than doubles to 16.25%. The Rs. 10.52 crore inflow strengthens the company's equity base, though further dilution is possible if the remaining 2,62,000 warrants are also converted.