Conversion of 44,40,000 Warrants, earlier issued on Preferential basis into equal no. of Equity Shares having face value of Rs. 1/- each
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Eraaya Lifespaces Ltd has allotted 44,40,000 equity shares to Just Right Life Limited (a Promoter Group company) upon conversion of an equal number of warrants. The shares have a face value of Re. 1 each and were issued at Rs. 81 per share, including a premium of Rs. 80 per share. Warrants were originally allotted on January 18, 2025, with 25% subscription paid upfront; the balance 75% has now been received. After this conversion, Just Right Life Limited's holding in the company rises to 47,40,000 shares (2.38%) from 3,00,000 shares (0.15%). The company's total paid-up equity capital has increased to Rs. 19,93,34,160, comprising 19,93,34,160 equity shares. About 1,02,60,000 warrants from the original 1,50,00,000 are still pending conversion.
This is a routine warrant-to-equity conversion by a Promoter Group entity, which increases the company's paid-up capital but does not bring in a new external investor. The conversion strengthens the promoter's stake and confirms their long-term commitment, though existing shareholders face mild dilution from the higher share count.