Dhani Services Limited has informed the Exchange regarding allotment of 2,25,00,000 fully paid up equity shares of face value of Rs. 2 each by Dhani Services Limited ("the Company") pursuant to the conversion of warrants.
Awaiting price reaction for this filing.
Dhani Services Limited has allotted 2,25,00,000 (2.25 crore) fully paid-up equity shares of face value Rs. 2 each to two Promoter Group entities — Valerian Real Estate Private Limited (1.125 crore shares) and Calleis Infracon Private Limited (1.125 crore shares) — upon conversion of equivalent warrants. The issue price was Rs. 90.30 per share, which is approximately 35% above the prevailing market price on NSE and BSE. The company received Rs. 152.38 crore as the balance 75% consideration for the conversion. Following this allotment, the paid-up equity share capital of the company has risen to Rs. 130.90 crore, divided into about 64.96 crore fully paid-up equity shares. The promoter group's holdings in each entity have doubled from 1.125 crore to 2.25 crore shares.
This is a promoter-driven equity infusion at a premium to market price, which signals promoter confidence in the company's future. However, the share count expansion is mildly dilutive for existing minority shareholders, and the premium pricing is favourable compared to typical discounted preferential issues.