Eco Recycling allots 3 lakh convertible warrants to promoters at Rs 411
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Eco Recycling board approved preferential allotment of 3,00,000 fully convertible warrants to promoters and promoter group at Rs 411 each (Rs 10 face value, Rs 401 premium). Total consideration is Rs 12.33 crore with 25% upfront already received at Rs 3.08 crore. Allottees are Brijkishor Soni, Aruna Soni, and Ecoreco Ventures (1 lakh each). Warrants convert to 1 equity share each within 18 months on payment of the remaining 75%; otherwise they lapse and the upfront amount is forfeited. Shareholder approval was via postal ballot on May 9, 2026.
No immediate dilution since warrants are not yet converted. Shows promoter confidence. Potential equity dilution if warrants are exercised within 18 months.