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, pursuant to the conversion of equivalent number of convertible 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. These shares were issued upon the conversion of an equal number of convertible warrants held by warrant holders. The allotment increases the company's equity share capital by Rs. 4.5 crore at face value, with the actual realised amount being higher based on the warrant conversion price agreed earlier. No further details on conversion price or allottees were disclosed in this filing.
Shareholders should note a dilution of 2.25 crore shares, though this was largely anticipated since warrants were already issued earlier. Conversion of warrants into equity is a mildly positive signal as it reflects the warrant holders' confidence in the company's prospects and brings clarity on the expanded equity base.