Conversion of 1,01,54,056 warrants into 1,01,54,056 Equity Shares of face value Rs. 2/- each
Awaiting price reaction for this filing.
Sellwin Traders Ltd's board has approved the conversion of 1,01,54,056 warrants into an equal number of fully paid-up equity shares with face value of Rs. 2 each. The conversion price is Rs. 8.40 per share, with 25% (Rs. 2.10) paid upfront when warrants were allotted and the remaining 75% (Rs. 6.30) paid now on conversion. The allotment was made to 46 allottees via preferential issue. Post-conversion, the company's paid-up equity capital increased to Rs. 49,00,23,112 comprising 24,50,11,556 equity shares. All allottees were new shareholders with zero prior holding, with the largest being Mideast Healthcare Private Limited at 1.63% post-allotment.
The conversion of over 10.15 crore warrants results in significant share capital dilution. Existing shareholders will see their ownership percentages reduced as new equity shares are issued. The new shares will rank pari passu with existing equity shares.