Allotment of Equity Shares pursuant to conversion of warrants
Price
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CWD Limited's Board approved allotment of 38,513 equity shares (face value Rs. 10 each) upon conversion of warrants at Rs. 680.25 per warrant (75% of Rs. 907 issue price). Additionally, 1,54,052 bonus shares were allotted in 4:1 ratio (4 new shares for every 1 existing share) to these warrant holders. The conversion was on preferential basis to 5 allottees including Rajesh Lalchand Dharmshi, Dev Ashok Karvat, Shruthi Kumar Menon, and Kumar Agarwal. Paid-up capital increased from Rs. 22.21 crore to Rs. 22.40 crore, representing dilution of approximately 0.87%. The company also announced FY2026 results with standalone net profit of Rs. 1,231.62 lakh (vs Rs. 251.04 lakh previous year), with auditors issuing unmodified opinion.
The warrant conversion at Rs. 907 represents a premium to face value, which is positive for existing shareholders as it validates the company's valuation. The 4:1 bonus issue provides additional upside to warrant holders while modestly diluting existing shareholders by under 1%.