Continental Securities Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/05/2025 ,inter alia, to consider and approve To allot 5, 00,000 Convertible ....
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Continental Securities Ltd has informed BSE that its Board of Directors will meet on May 7, 2025, to consider and approve the allotment of 5,00,000 convertible warrants on a preferential basis to members of the Promoter Group. Each warrant is convertible into one equity share of face value ₹32 at a premium of ₹19 per share, taking the total issue price to ₹51 per warrant. The total potential capital infusion, if all warrants are converted, works out to approximately ₹2.55 crore. The meeting will also consider any other matter with the Chair's permission.
This preferential allotment to the Promoter Group signals promoter confidence and a fresh capital infusion of around ₹2.55 crore once warrants are exercised. However, conversion of these warrants will lead to equity dilution for existing public shareholders.