Conversion of 15,66,000 Warrants (pre-split - 3,13,200 Warrants) into 15,66,000 Equity Shares.
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Bondada Engineering's board, at its meeting on May 31, 2025, approved the conversion of 15,66,000 warrants into 15,66,000 equity shares at ₹351.20 per share (face value ₹2, premium ₹349.20). The warrants were originally allotted on July 15, 2024, and the allottee (Dr. Faruk G. Patel, a non-promoter) has now paid the full 100% amount of approximately ₹54.99 crores to trigger the conversion. After this allotment, the allottee will hold 1.40% of the company's post-issue share capital. The company's total paid-up equity share capital has increased to ₹22.31 crores, comprising 11,15,93,485 equity shares of ₹2 each.
This is a routine warrant-to-equity conversion on a preferential basis, resulting in dilution of about 1.40% for existing shareholders. No fresh cash inflow beyond what was already received; the newly allotted shares will be subject to SEBI-mandated lock-in restrictions under Chapter V of the ICDR Regulations.