Considered and approved the conversion of 7,00,000 warrants into 7,00,000 Equity shares of face value of Rs. 2/- at a premium of Rs. 19/- Each and allotment of such equity shares to allottes ....
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The Board of Directors of Continental Securities Ltd approved the conversion of 7,00,000 convertible warrants into 7,00,000 equity shares at a face value of Rs. 2 each with a premium of Rs. 19 per share (total Rs. 21 per share). The warrants were originally issued on a preferential basis on January 31, 2025, and the balance 75% consideration was received on January 28, 2026 from the allottee Vachi Commercial LLP (part of the Promoter Group). Following this conversion, the company's paid-up equity capital has risen from Rs. 5.85 crore to Rs. 5.99 crore, taking the total share count to 2,99,53,000 shares. Vachi Commercial LLP's holding will increase from 6.67% to 8.35% post-allotment, indicating further promoter group consolidation.
Existing shareholders face mild dilution as 7 lakh new shares are added (~2.4% increase in share count). The move strengthens the promoter group's stake, reflecting continued confidence, but the conversion was already pre-disclosed and largely priced-in by the market. Technically a mildly positive signal on promoter commitment.