Blue Coast Hotels Limited has informed the Exchange regarding allotment of 24,87,100 securities pursuant to conversion of Compulsory Convertible Preference Shares ("CCPS") at its meeting ....
BLUECOAST · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Blue Coast Hotels has allotted 24,87,100 equity shares of Rs 10 each to its promoter group entities through conversion of 2,48,710 Compulsorily Convertible Preference Shares (CCPS) at a conversion price of Rs 10 per share. The conversion involved 11 promoter entities, with each receiving 2,26,100 equity shares upon conversion of 22,610 CCPS. All allottees belong to the Promoter and Promoter Group category. Following this allotment, the company's paid-up equity share capital increased to Rs 19.67 crore comprising 1,96,79,557 equity shares. The company also appointed M/s Sidharth K Agarwal & Co as its Internal Auditor for FY 2026-27.
This conversion increases the promoter group's holding in the company. The equity dilution from this conversion is approximately 12.6% of the expanded share capital. No fresh capital was raised as this is purely a conversion of existing preference shares to equity.