Outcome of Board Meeting of the Company held on Monday, May 12, 2025 for Conversion of 15,07,199 warrants into 15,07,199 equity shares of face value of Rs. 10/- each.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Bhatia Colour Chem's board, at its meeting on May 12, 2025, approved the conversion of 15,07,199 warrants into an equal number of equity shares of face value Rs. 10 each at an issue price of Rs. 134 per share (including a premium of Rs. 124). The company received the balance 75% amount of Rs. 100.50 per warrant, aggregating to Rs. 15.15 crore, from promoters and identified non-promoter allottees. These warrants were originally allotted on January 3, 2025 (out of a total 44,00,000 warrants) on a preferential basis. After this conversion, the company's paid-up equity capital has risen to Rs. 13.74 crore comprising 1,37,40,949 equity shares. About 28,92,801 warrants are still pending conversion and must be exercised within 18 months of allotment.
This is a dilution event as new equity shares are being issued to promoters and select non-promoter allottees, slightly expanding the shareholder base. Existing shareholders may see a marginal reduction in their proportional holding, though the issue was priced at a significant premium (Rs. 124 over face value), bringing fresh capital of about Rs. 15.15 crore into the company.