1. Allotted 6,52,50,000 (Six Crore Fifty Two Lakhs Fifty Thousand Only) Convertible Warrants ('Warrants') entitling the Warrant Holders to exercise option to convert and get allotted one ....
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Clio Infotech's Board approved allotment of 6.525 crore convertible warrants to three non-promoter entities: Global Focus Fund, AIO Growth Capital Fund SPC, and Wave Capital Limited, each receiving 2.175 crore warrants. The total consideration raised is Rs. 16.31 crore at Rs. 2.50 per warrant. Each warrant is convertible into one equity share of Rs. 10 face value within 18 months. buyers pay 75% upfront (Rs. 1.875 per warrant) with the remaining 25% due at conversion. The conversion price is subject to re-computation per SEBI ICDR Regulations 2018. The company also plans to alter the objects of the preferential issue pending shareholder approval.
Significant dilution risk for existing shareholders as 6.525 crore new equity shares may be issued upon conversion. The preferential allotment to non-promoters at a low warrant price (Rs. 2.50) suggests potential dilution at a discount to market price.