ALLOTMENT OF EQUITY SHARES ON CONVERSION OF WARRANTS
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The board of Dev Labtech Venture Ltd approved the conversion of 5,60,000 warrants into 5,60,000 equity shares at Rs. 62 per share (including Rs. 52 premium), allotted to five members of the promoter/promoter group on a preferential basis. The company received the remaining 75% balance amount of Rs. 46.50 per warrant, aggregating to Rs. 2.60 crore. As a result, the paid-up capital increased from Rs. 11.30 crore to Rs. 11.86 crore, comprising 1,18,63,139 equity shares of Rs. 10 each. Promoter/promoter group holding rose from 54.55% to 56.69%, with no warrants now pending for conversion.
This is a routine completion of a previously approved preferential warrant issue to promoters, resulting in modest promoter holding increase (about 2.14%) and small dilution for public shareholders. With no warrants outstanding, the overhang from this issue is now cleared, but the stock remains on BSE SME platform with limited liquidity.