Allotment of Equity shares upon conversion warrants.
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Candour Techtex Limited has allotted 4,00,000 equity shares (face value Rs. 10 each) to M/s. Mangal Keshav Capital Limited (a non-promoter) upon conversion of share warrants. The allottee paid Rs. 62.775 per share warrant (the remaining 75% of the Rs. 83.70 exercise price), aggregating to Rs. 2.51 crore. This is the final tranche of conversion — all 12,00,000 warrants originally held by Mangal Keshav have now been fully converted. As a result, the company's paid-up equity share count has risen from 1,87,56,738 to 1,91,56,738 shares, a dilution of about 2.1%.
Minor dilution for existing shareholders as 4 lakh new shares are added to the equity base. The fact that the warrant holder fully exercised all warrants signals confidence from the investor, while the company receives Rs. 2.51 crore in cash — a small but positive fund inflow.