Allotment of 30,12,010 Equity shares pursuant to the conversion of warrants into equity shares at an issue price of Rs. 16.80/- each to the allottee(s) belonging to the non-promoter category.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Darjeeling Industriies Ltd (formerly Darjeeling Ropeway Company Ltd) has allotted 30,12,010 fully paid-up equity shares at Rs. 16.80 per share (Rs. 10 face value + Rs. 6.80 premium) following the conversion of an equivalent number of convertible warrants. The allottees are six non-promoter individuals, including Managing Director Ashok Dilipkumar Jain. Total fresh capital received on this conversion is approximately Rs. 3.80 crore (Rs. 3,79,51,326), being the balance 75% of the warrant exercise price. As a result, the company's paid-up equity capital has risen from Rs. 4.85 crore (48.5 lakh shares) to Rs. 7.86 crore (78.62 lakh shares) — a roughly 62% expansion of the equity base. Of the original 70 lakh warrants issued on 23 September 2025, 48.12 lakh have now been converted (18 lakh earlier + 30.12 lakh now), while 21.88 lakh warrants remain outstanding.
Existing shareholders will see dilution of around 38% as the equity base expands sharply. The issue price of Rs. 16.80 represents a premium of Rs. 6.80 over face value, which is mildly positive for the company's capital reserves. Watch for further dilution from the 21.88 lakh warrants still pending conversion.