Caprihans India Limited has informed the Exchange about (a) Redemption of Preference Shares & (b) Conversion of Warrants into Equity Shares.
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Caprihans India redeemed 78 million 0.1% non-cumulative redeemable preference shares of ₹10 each, aggregating to ₹7.80 crore. Concurrently, the company allotted 5,20,000 equity shares upon conversion of an equal number of warrants held by promoter Bilcare Limited. The warrants were issued at ₹200 per share (₹10 face value + ₹190 premium), with the promoter paying the balance 75% (₹150 per warrant = ₹7.80 crore) to complete conversion. Post-allotment, the company's equity share capital increased from ₹15.91 crore to ₹16.43 crore. Bilcare's holding increased from 59.56% to 60.84%.
Preference share redemption reduces the company's fixed dividend obligations and financial burden. Warrant conversion increases promoter stake, which may signal promoter confidence but reduces equity density for other shareholders. No immediate impact on stock price expected from these structural changes.