Conversion of 42,00,000 Warrants, earlier issued on Preferential basis into equal number of Equity Shares having Face Value of Rs. 1/- each.
Price
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Eraaya Lifespaces Ltd has converted 42,00,000 warrants into equity shares at Rs. 81 per share (face value Rs. 1, premium Rs. 80). The warrants were originally allotted on January 18, 2025, on a preferential basis to Vikas Lifecare Limited, which belongs to the Promoter/Promoter Group category. Earlier, 8,00,000 warrants had already been converted, and with this additional conversion, Vikas Lifecare's total holding has risen to 50,00,000 shares (2.57% post-issue). As a result, the company's paid-up equity capital has increased to Rs. 19,48,94,160, comprising 19,48,94,160 equity shares of Re. 1 each. The new shares will rank equally with existing shares.
This is a promoter-group led equity infusion of roughly Rs. 34 crore at Rs. 81/share, which strengthens the company's capital base but also modestly dilutes existing shareholders. The premium pricing signals promoter confidence at current valuations.