1. Considered and Approved Conversion of warrants into equity shares of the Company 2. Other Matter with Permission of the Chairman
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.3 pts less than its Healthcare Service Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Deccan Health Care's board approved the conversion of 7,15,000 warrants into equity shares at Rs. 30 per share (face value Rs. 10, premium Rs. 20). Focal Ventures Private Limited converted 6,00,000 warrants paying Rs. 1.35 crore, and Krishna Ventures converted 1,15,000 warrants paying Rs. 25.87 lakh, together bringing in Rs. 1.60 crore. The paid-up share capital increased from Rs. 23.42 crore to Rs. 24.14 crore, comprising 2,41,40,513 equity shares. These warrants were originally allotted on a preferential basis on 12 October 2023, and 16,08,667 warrants are still pending conversion within the 18-month exercise window. Additionally, the Chairman proposed appointing Mr. Mohak Gupta, currently President of International Business, to the Board, subject to shareholder and committee approvals.
The conversion is mildly dilutive but brings in additional capital from existing warrant holders at a premium, slightly boosting equity base. Existing shareholders will see a small dilution; the remaining 16 lakh+ warrants could cause further dilution if converted in the future.