Allotment of equity shares upon conversion of warrants
BORORENEW · price
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Borosil Renewables has allotted 94,338 fully paid-up equity shares of Re. 1 each to two warrant holders upon conversion of their warrants. The warrants were originally allotted on February 14, 2025, at Rs. 530 per warrant on preferential basis to non-promoter allottees. The warrant holders paid the balance 75% (Rs. 397.50 per warrant) to convert into equal number of equity shares. The two allottees are Brescon Ventures Private Limited (66,037 shares) and Trinity Credit Management Services LLP (28,301 shares). Following this allotment, the company's paid-up equity share capital stands at Rs. 14,02,83,183 divided into 14,02,83,183 equity shares.
This is a routine warrant conversion that will cause minor dilution to existing shareholders. The new shares rank pari-passu with existing shares. Given the small number of shares (94,338) relative to total outstanding (over 14 crore), the impact on stock price is expected to be minimal.