Conversion of 1,94,70,000 warrants into 1,94,70,000 equity shares of face value Re.01/- by the way of preferential allotment to such promoter and non-promoter persons/entities pursuant ....
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Dhansafal Finserve Ltd is converting 1,94,70,000 warrants into an equal number of equity shares of face value Re. 1 each. The conversion is happening through a preferential allotment to promoter and non-promoter persons/entities, meaning the warrants issued earlier are now being exercised into actual shares. This results in fresh equity issuance at a price higher than the face value (the conversion price was set at the time of warrant issuance). Existing shareholders will see their holding percentage diluted as new shares are added to the total share base.
This is a dilution event for existing shareholders as nearly 1.95 crore new shares are being issued. However, it also signals that the company has successfully completed its earlier fund-raising plan through the warrant route, strengthening its equity base.