Blue Coast Hotels Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/05/2025 ,inter alia, to consider and approve the allotment of 25,52,000 ....
BLUECOAST · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Blue Coast Hotels has informed the exchanges that its Board of Directors will meet on 16th May 2025 to consider and approve the allotment of 25,52,000 equity shares of Rs. 10 each on a preferential basis. This allotment is pursuant to the conversion of 2,55,200 0.01% Compulsorily Convertible Preference Shares (CCPS) of Rs. 100 face value each, held by persons belonging to the Promoter and Promoter Group category. The conversion ratio works out to 10 equity shares per CCPS. The trading window for designated persons remains closed till further notice.
This is a pre-scheduled conversion of promoter-held CCPS into equity and not fresh capital infusion, so there is no dilution from public shareholders' perspective or new fundraising. Share price is unlikely to be materially impacted.