Intimation Of Trading Approval Received For 2,78,300 (Two Lakhs Seventy-Eight Thousand Three Hundred) Equity Shares Having Face Value of Rs. 10/- (Rupees Ten Only) Each Allotted at the Price of Rs. 239.50/- (Rupees Two Hundred Thirty-Nine and Fifty Paisa Only) (Including A Premium of Rs. 229.50/- (Rupees Two Hundred Twenty-Nine and Fifty Paisa Only)) Per Equity Share on Conversion of Warrants Issued on Preferential Basis in Terms of Chapter V Of SEBI (ICDR) Regulations, 2018.
EMKAY · price
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Emkay Global Financial Services has received trading approval for 2,78,300 equity shares of Rs. 10 face value each. These shares were allotted at Rs. 239.50 per share (including a premium of Rs. 229.50) upon conversion of warrants that were earlier issued on a preferential basis. The allotment was carried out under Chapter V of SEBI's ICDR Regulations, 2018. With this trading approval, these shares can now be freely traded on the stock exchange.
Existing shareholders face dilution from the conversion of warrants into fresh equity shares, increasing the total share count. The conversion price of Rs. 239.50 represents a premium over face value, meaning the company had already received the corresponding funds earlier. The supply of these shares in the open market could create mild short-term selling pressure depending on who the allottee is.