Conversion of 1,01,54,056 warrants into 1,01,54,056 Equity Shares of face value Rs. 2/- each out of the warrants allotted by way of preferential allotment to the following persons/entities ....
Awaiting price reaction for this filing.
Sellwin Traders Ltd's Board of Directors has approved the conversion of 1,01,54,056 warrants into an equal number of fully paid-up Equity Shares of Rs. 2/- each. The conversion price is Rs. 8.40 per share, with 25% (Rs. 2.1) paid at warrant allotment and the remaining 75% (Rs. 6.3) paid upon conversion. The shares were allotted to 46 allottees via preferential allotment, including individuals like Rupaben Jayeshbhai Raval and entities like Mideast Healthcare Private Limited. Post-conversion, the company's equity share capital stands at Rs. 49,00,23,112 divided into 24,50,11,556 shares. Mideast Healthcare becomes the largest new shareholder with 1.63% stake, followed by Rupaben Jayeshbhai Raval with 0.50%.
The conversion increases the company's paid-up capital by approximately Rs. 2.03 crore (at face value), diluting existing shareholders. The new shares rank pari-passu with existing shares, and no immediate significant impact on stock price is expected from this routine warrant conversion exercise.