Board approves conversion of 9.97 lakh warrants into equity shares

Warrants ConvertedFund Raising View source PDF

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AI summary

DJ Mediaprint & Logistics board approved conversion of 9,97,894 warrants into equal number of equity shares at Rs 114 each (face value Rs 10 plus premium Rs 104). The company received Rs 8.53 crore (balance 75% of issue price) from 5 allottees, including promoter Dinesh Muddu Kotian who got 9,29,824 shares. Post-conversion, paid-up equity capital rises to Rs 35.93 crore (3.59 crore shares). About 47.87 lakh warrants, including 26.80 lakh from the promoter, are still pending conversion.

Likely market impact

Dilution of existing shareholders as new shares are issued; promoter commitment is a positive signal but pending warrants could add further dilution.