Caprihans India Limited has informed the Exchange about the disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015, regarding Redemption of Preference Shares & Conversion of Warrants
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Caprihans India has redeemed 39.75 lakh 0.1% Non-Cumulative, Non-Participating Redeemable Preference Shares of ₹10 each, totalling ₹3.975 Crores, bringing its preference share capital down to ₹137.93 Crores. Separately, promoter Bilcare Limited has converted 2.65 lakh warrants into equity shares at ₹200 per share (₹10 face value + ₹190 premium), paying the remaining 75% of the warrant price (₹3.975 Crores). This allotment of 2.65 lakh equity shares (total value ₹5.30 Crores) raised the company's equity share capital from ₹17.35 Crores to ₹17.62 Crores. Following the conversion, Bilcare's stake in the company increased from 62.92% to 63.47%, strengthening the promoter's grip on the company.
Minor dilution for non-promoter shareholders as the equity base expands, while the promoter consolidates control. The redemption of low-coupon (0.1%) preference shares is largely a routine capital restructuring and removes a relatively cheap class of capital.