Crown Lifters Limited has informed the Exchange regarding Allotment of 234156 Equity Shares of Face Value of Rs. 10 each upon Conversion of Warrants.
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Crown Lifters Limited has allotted 2,34,156 equity shares of Rs. 10 face value each to four non-promoter allottees upon conversion of warrants originally issued on November 12, 2024. The shares were allotted at an issue price of Rs. 268 per share (including a premium of Rs. 258), and the company received Rs. 4.71 crore as the balance 75% amount from the allottees. The allottees include Siraj Virji Jaria (24,156 shares), Swati Goel (75,000 shares), Raju Ramchandra Bhat HUF (60,000 shares), and Intellectual Partners (75,000 shares). With this conversion, all pending warrants of these allottees stand fully converted. The company's paid-up equity share capital has increased to Rs. 11.51 crore, consisting of 1,15,10,000 fully paid-up equity shares.
This is a routine completion of the warrant conversion process, resulting in a marginal dilution of about 2% for existing shareholders. The fresh shares rank pari-passu with existing equity shares, and since the conversion was at a premium, it strengthens the company's capital base. No significant price impact is expected as the conversion was pre-disclosed and priced at a substantial premium to face value.