Considered and approved the conversion of 5,00,000 warrants into 5,00,000 Equity shares of face value of ? 2/- at a premium of Rs. 19/- Each.
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The Board of Directors of Continental Securities Limited, at its meeting held on May 7, 2025, approved the conversion of 5,00,000 warrants into an equal number of fully paid-up equity shares. Each share has a face value of ₹2 and was issued at a premium of ₹19, taking the total issue price to ₹21 per share. The conversion was done in favour of Rajesh Khuteta HUF, belonging to the Promoter Group, who had originally received the warrants on a preferential basis on January 31, 2025. As a result, the allottee's holding increased from 6,19,400 shares (2.36%) to 11,19,400 shares (3.53%). The paid-up equity capital of the Company rose from ₹5,25,06,000 (2,62,53,000 shares) to ₹5,35,06,000 (2,67,53,000 shares).
This is a modest ~1.9% increase in total share count, leading to minor dilution for existing shareholders. The promoter's stake has gone up by about 1.17 percentage points, signalling a small promoter group consolidation rather than fresh capital infusion from the market.