Conversion of 42,132 warrants into 42,132 Equity Shares of face value of Rs. 10/- each.
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Awaiting price reaction for this filing.
Bhatia Colour Chem Ltd has converted 42,132 warrants into an equal number of equity shares at Rs. 134 per share, including a premium of Rs. 124 per share. The company received Rs. 42.34 lakh from four allottees (Promoter Group and identified Non-Promoter persons) who paid the remaining 75% of the issue price to exercise their conversion rights. These warrants were originally allotted on a preferential basis on January 3, 2025, when allottees paid only the initial 25% (Rs. 33.50 per warrant). Post this allotment, the company's paid-up equity capital has increased to Rs. 14.14 crore consisting of 1.41 crore equity shares. Around 24.94 lakh warrants are still pending conversion, which could lead to further share dilution if exercised.
This is a routine partial conversion of previously allotted warrants and brings in additional capital for the company. However, the large number of outstanding warrants (24.94 lakh) poses future dilution risk for existing shareholders once converted.