Considered and Approved 1. Conversion of warrants into equity shares of the Company 2. Appointment of Mr Mohak Gupta - Additional Executive Director 3. Extension of POSHAN MAITRI innovative ....
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Deccan Health Care's board approved conversion of 6,08,667 warrants into equity shares by Focal Ventures Private Limited, bringing in Rs. 1.36 crore at Rs. 30 per share (Rs. 10 face value + Rs. 20 premium). This raises the company's paid-up equity capital from Rs. 24.14 crore to Rs. 24.75 crore (2.47 crore shares). Another 10 lakh warrants held by Akhil Bhandari remain unexercised and will lapse, with the 25% subscription amount forfeited. The board also appointed Mr. Mohak Gupta as Additional Executive Director for 5 years; he is the son of Chairman & Managing Director Minto Gupta and has been with the company since 2011 as President of International Business. Additionally, the POSHAN MAITRI nutrition project with the Himachal Pradesh government in Kangra district has been extended by six months.
Minor equity dilution of about 2.5% from the warrant conversion, with the company collecting fresh capital at a premium. The appointment of the CMD's son as Executive Director formalizes next-generation family involvement on the board. The lapsed warrants mean a small forfeiture benefit for the company. Overall, low-impact event for existing shareholders.