Conversion of 80,50,000 Share Warrants into 80,50,000 Equity Shares of face value Rs. 02/- by the way of Preferential Allotment.
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Comfort Fincap Ltd's Board has approved the conversion of 80,50,000 share warrants into 80,50,000 fully paid-up equity shares of Rs. 2 each via preferential allotment. The conversion price was Rs. 9 per warrant, with the company receiving the remaining 75% balance of Rs. 5,43,37,500 at Rs. 6.75 per warrant. Four investors converted their warrants: Luharuka Investment & Consultants (65 lakh warrants, now holds 24.37%), Kalpesh Mehta (6 lakh, now 0.92%), Darshan Doshi (9 lakh, now 0.92%), and Jignesh Gala (50,000, now 0.07%). The paid-up capital increased from Rs. 18 crore to Rs. 19.61 crore, with total shares rising from 9 crore to 9.81 crore.
Dilution of approximately 8.9% in existing shareholding; Luharuka Investment emerges as a major shareholder with 24.37% stake. The new shares rank pari-passu with existing equity shares.