Bannari Amman Spinning Mills Limited has informed the Exchange about the Intimation of allotment of 41,66,660 Convertible equity warrants of face value of Rs.5/- each on a Preferential basis to Promoter.
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Bannari Amman Spinning Mills has allotted 41,66,660 convertible equity warrants to its promoter, M/s Murugan Enterprise Private Limited, on a preferential basis. Each warrant has a face value of Rs.5 and is issued at Rs.36, which includes a premium of Rs.31 per warrant. The total aggregate consideration works out to about Rs.15 crore (Rs.14,99,99,760). The warrants were approved by the board on August 22, 2025, after earlier in-principle approvals from BSE and NSE on August 18, 2025. These warrants can be converted into equity shares later as per the terms of the preferential issue.
This is a capital infusion from the promoter group, which signals confidence in the company's future and strengthens the promoter's holding. Since the warrants are at a premium to face value, it indicates the promoter is willing to invest at a higher valuation, which is a positive signal for existing shareholders.