Submission of intimation of 7,00,000 convertible warrants into equity shares .
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Continental Securities Ltd has converted 7,00,000 convertible warrants into equity shares, allotted to Vachi Commercial LLP, a member of the promoter group. The shares carry a face value of ₹2 each with a premium of ₹19 per share, taking the effective issue price to ₹21. This is part of a larger 20,00,000 warrants originally issued on a preferential basis on January 31, 2025, with the balance 75% payment received on January 28, 2026. As a result, the company's paid-up equity capital has increased from ₹5.85 crore (2,92,53,000 shares) to ₹5.99 crore (2,99,53,000 shares). The promoter group's stake via this allotment rises from 6.67% to 8.35%, signalling continued promoter commitment to the company.
This is a modest dilution event for existing shareholders (~2.4% increase in share count), but since the promoter group is the one converting, it actually strengthens promoter holding and signals confidence in the company's prospects. The completed conversion removes uncertainty around the pending warrants.