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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Eraaya Lifespaces Ltd's Fund-Raising Committee has approved the allotment of up to 3.12 crore Fully Convertible Warrants at Rs. 32 per warrant to raise approximately Rs. 100 crore. The warrants, convertible into one equity share each within 18 months, will be issued to a mix of Promoter/Promoter Group entities (1.46 crore warrants) and 37 Non-Promoter Public Category allottees (1.66 crore warrants). Promoter group includes Vikas Garg, Advikca Finvest Limited, and Just Right Life Limited. Notable public allottees include Sharad Rathi (40 lakh warrants), Harsh Saraf (15 lakh), Vishal Garg (11 lakh), and Sneha Garg (7.75 lakh). On full conversion, promoter holding will dilute from 42.70% to 28.47%, while public holding increases from 57.30% to 71.53%.
Significant dilution risk for existing shareholders as total equity base will nearly double upon full conversion. The large public allottee list with some taking substantial positions suggests reasonable investor interest, though the heavy dilution to promoters may concern existing investors about control.