Submission of Intimation of allotment of 5,00,000 convertible warrants into equity shares.
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Continental Securities Ltd's board, at its meeting on May 12, 2025, approved the conversion of 5,00,000 warrants into 5,00,000 equity shares of face value Rs. 2 each at a premium of Rs. 19 per share. The warrants were originally allotted on a preferential basis on January 31, 2025, to Taarush Tradecom LLP (a Non-Promoter entity), which paid the initial 25% upfront and the balance 75% on May 8, 2025. Following this allotment, the company's paid-up equity capital rose from Rs. 5.35 crore (2.67 crore shares) to Rs. 5.45 crore (2.72 crore shares). Taarush Tradecom LLP's stake in the company increased from 4.58% to 5.36% post-conversion. The allotment was approved by shareholders on January 7, 2025, and received in-principle approval from BSE on January 29, 2025.
This is a routine conversion of previously allotted warrants into equity shares, resulting in a modest dilution of about 1.87% in total share count. It confirms capital infusion at Rs. 21 per share (Rs. 1.05 crore in total) from an existing non-promoter investor, which is mildly positive for share price given the investor chose to fully convert.