Continental Securities converts 5 lakh promoter warrants into equity shares

Warrants ConvertedFund Raising View source PDF

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₹12.57

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AI summary

Continental Securities board approved conversion of 5,00,000 convertible warrants into equity shares by Vachi Commercial LLP, a promoter group entity. Balance 75 percent consideration of Rs 15.75 per warrant received, making total issue price Rs 21 per share. Paid-up capital rises from Rs 6.09 crore to Rs 6.19 crore, taking total shares to 3.09 crore. Vachi Commercial LLP holding rises from 8.70 percent to 9.92 percent. Of original 20 lakh warrants, 12 lakh now converted and 8 lakh remain outstanding.

Likely market impact

Minor dilution from warrant conversion by promoter group. Paid-up capital rises 1.6 percent. Vachi Commercial LLP holding rises from 8.70 to 9.92 percent.