Disclosure under Regulation 30 of SEBI Listing Regulations, 2015-Conversion of Share Warrants and Allotment of 18,600 Equity Shares of the Company upon conversion.
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Cosmic CRF Ltd's Board approved the conversion of 18,600 convertible warrants into fully paid-up equity shares and allotted them to the Promoter Group. The shares have a face value of Rs. 10 each and were issued at Rs. 1,614 per share (including a premium of Rs. 1,604). The company received the balance exercise price of Rs. 1,210.50 per warrant, totalling about Rs. 2.25 crore. Allottees include Mrs. Purvi Birla (6,300 shares) and Aditya Vikram Birla (12,300 shares), both from the Promoter Group. As a result, the issued and paid-up capital rises marginally from 91,87,643 to 92,06,243 equity shares. The new shares will rank equally with existing equity shares.
This is a small dilution of about 0.2% as promoter-held warrants convert into equity, signalling promoter confidence and continued capital infusion into the company. Minor impact on shareholding pattern and negligible effect on stock price.