Caprihans India Limited has informed the Exchange about Redemption of Preference Shares & Conversion of Warrants into Equity Shares
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Caprihans India has completed redemption of 78 lakh 0.1% Non-Cumulative Redeemable Preference Shares worth ₹7.80 crores. Separately, the promoter Bilcare Limited exercised 5.20 lakh warrants which were converted into 5.20 lakh equity shares at ₹200 per share (₹10 face value + ₹190 premium), bringing in ₹7.80 crores to the company. This increased the company's equity share capital from ₹16.43 crore to ₹16.95 crore. The promoter's stake in the company increased from 60.84% to 62.04% after this conversion.
The redemption of preference shares reduces the company's debt obligation, which is positive for existing shareholders. The warrant conversion increases promoter holding, resulting in minor dilution for other shareholders.