Intimation of allotment of Equity Shares upon conversion of Warrants
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Continental Petroleums has converted 29,07,250 convertible warrants into equity shares of face value Rs. 5 each at a premium of Rs. 105 per share (effective issue price Rs. 110). This follows an earlier allotment of 48,12,500 warrants on June 9, 2025, of which 4,97,250 warrants were issued via share swap and 43,15,250 for cash. Of the 38 original allottees, 23 (20 non-promoter and 3 promoter group) have now exercised their conversion rights. Non-promoter allottees paid Rs. 20.08 crore as the balance 75% consideration, while promoter group allottees converted via share swap. The company's paid-up equity capital has risen from 55,60,624 shares (Rs. 2.78 crore) to 84,67,874 shares (Rs. 4.23 crore), an increase of about 52%.
The conversion increases the share count by roughly 52%, which dilutes promoter holding from 34.41% to 28.47% and expands the non-promoter base to 71.53%. Shareholders should expect EPS dilution, though the company has successfully raised about Rs. 20 crore in fresh capital, which could support business growth.