Conversion of 15,07,199 warrants into 15,07,199 equity shares of face value of Rs. 10/- each
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Bhatia Colour Chem Ltd's board, meeting on May 12, 2025, approved the conversion of 15,07,199 convertible warrants into an equal number of equity shares of Rs. 10 face value at Rs. 134 per share (including a Rs. 124 premium). The company received Rs. 15.14 crore as the remaining 75% balance (Rs. 100.50 per warrant) from about 90 allottees belonging to the promoter group and identified non-promoter public category. These warrants were originally allotted on January 3, 2025, as part of a preferential issue of 44 lakh warrants. Following this conversion, the company's paid-up equity capital has risen to Rs. 13.74 crore, comprising 1.37 crore equity shares, a dilution of roughly 11-12% from the pre-issue share count. About 28.92 lakh warrants are still outstanding and can be converted within 18 months of the original allotment by paying the remaining 75% amount.
Shareholders face equity dilution of around 11-12% as the share count jumps to 1.37 crore. The company has successfully raised Rs. 15.14 crore in fresh capital, strengthening its balance sheet, but further dilution remains possible as 28.92 lakh more warrants are still pending conversion.