Considered and approved the conversion of 7,75,000 warrants into 7,75,000 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 approved the conversion of 7,75,000 warrants into equity shares of Rs. 2 face value each, issued at a premium of Rs. 19 per share (total Rs. 21 per share). The warrants were originally allotted on January 31, 2025 on a preferential basis to two non-promoter allottees — Satiny Constructions Limited (2,75,000 warrants) and Aahwaanith Tradecom LLP (5,00,000 warrants). Both allottees have now paid the remaining 75% of the consideration, triggering conversion. As a result, the company's paid-up equity capital increased from Rs. 5.69 crore (2,84,78,000 shares) to Rs. 5.85 crore (2,92,53,000 shares). This is part of the preferential issue approved by shareholders in January 2025.
This is a routine completion of a previously announced preferential warrant conversion, resulting in a modest 2.7% dilution of existing equity. It brings in fresh capital from non-promoter investors, but the small size relative to the company's capital base means limited material impact on share price or shareholder value.