Submission of intimation of allotment of convertible warrants into equity shares .
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Awaiting price reaction for this filing.
Continental Securities Ltd has converted 5,00,000 convertible warrants into 5,00,000 equity shares of Rs. 2 face value at a premium of Rs. 19 per share, taking the effective issue price to Rs. 21 per share. The warrants were originally allotted on January 31, 2025 on a preferential basis, with 25% subscription money received earlier and the remaining 75% received on May 3, 2025. The sole allottee is Rajesh Khuteta HUF, belonging to the promoter group, whose shareholding will rise from 2.36% to 3.53% post-conversion. As a result, the company's paid-up equity capital has increased from Rs. 5.25 crore to Rs. 5.35 crore (from 2.62 crore shares to 2.67 crore shares).
This is a dilution event driven by the promoter group, increasing the share count by about 1.9%. No fresh capital from outside investors — this simply completes the conversion process already approved by shareholders in January 2025, so the impact on stock price should be limited as it was anticipated.