Submission of intimation of 7,25,000 Convertible Warrants into equity shares.
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Awaiting price reaction for this filing.
Continental Securities Limited has converted 7,25,000 convertible warrants into equity shares of face value ₹2 each. These warrants were originally allotted on January 31, 2025, on a preferential basis to Satiny Constructions Limited (a non-promoter), out of a total of 10,00,000 warrants. The allottee paid the balance 75% of the issue price (₹15.75 per warrant, with total warrant price being ₹21) on May 17 and May 21, 2025, following the initial 25% subscription. As a result, the company's paid-up equity capital increased from ₹5,55,06,000 to ₹5,69,56,000, and total shares rose from 2,77,53,000 to 2,84,78,000. Post-conversion, Satiny Constructions holds 2.55% in the company, with potential to increase to 3.15% if the remaining 2,75,000 warrants are also converted within the 18-month exercise period.
This is a minor dilution event for existing shareholders (about 2.6% increase in share count). The conversion confirms capital inflow from a non-promoter entity and strengthens the equity base, though no significant price catalyst is evident from this routine warrant conversion.