Conversion of 15,00,000 Warrants, earlier issued on Preferential basis into equal number of Equity Shares having face value of Rs. 1/- each.
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Eraaya Lifespaces has allotted 15,00,000 equity shares to promoter Mr. Vikas Garg on conversion of an equal number of warrants that were originally issued on a preferential basis on January 18, 2025. The shares carry a face value of Re. 1 each and were allotted at Rs. 81 per share, which includes a premium of Rs. 80 per share. Mr. Garg had initially received 50,00,000 warrants, of which 3,00,000 were already converted; with this conversion, 32,00,000 warrants remain pending. Post-allotment, the company's paid-up equity capital stands increased to Rs. 20,08,34,160, comprising 20,08,34,160 equity shares. Mr. Garg's shareholding in the company has risen from 0.15% (3,00,000 shares) to 0.90% (18,00,000 shares) following this allotment.
This conversion increases the promoter's stake in the company from 0.15% to 0.90%, bringing in the balance 75% of the warrant issue price and strengthening the company's equity base. For existing non-promoter shareholders, it is a mild dilution, but since the promoter is the allottee, the change in overall promoter holding is modest.