Considered and approved the conversion of 7,25,000 warrants into 7,25,000 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 Continental Securities Ltd, at its meeting on May 24, 2025, approved the conversion of 7,25,000 warrants (out of 10,00,000 warrants originally allotted on January 31, 2025) into equity shares of Rs. 2 face value each at a premium of Rs. 19 per share, meaning a total issue price of Rs. 21 per share. The shares were allotted to Satiny Constructions Limited, a non-promoter entity, which paid the remaining 75% of the consideration on May 17 and May 21, 2025. As a result, the company's paid-up equity capital increased from Rs. 5,55,06,000 (2,77,53,000 shares) to Rs. 5,69,56,000 (2,84,78,000 shares). Post-conversion, Satiny Constructions will hold 2.55% of the paid-up share capital, and 3.15% if the remaining 2,75,000 warrants are also converted.
This is a routine warrant-to-equity conversion that slightly dilutes existing shareholders by about 2.6% in share count. The capital raised (around Rs. 1.52 crore from this tranche) strengthens the equity base, though the small size and non-promoter allottee suggest limited material impact on the stock price.