Conversion of Warrants into Equity Shares
Price
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Eraaya Lifespaces Ltd's fund-raising committee approved the allotment of 32,00,000 equity shares at Rs. 81 per share (face value Re. 1 + Rs. 80 premium), upon conversion of equal number of warrants. The allottee is Just Right Life Limited, belonging to the Promoter/Promoter Group category. This conversion brings the company's paid-up capital to Rs. 21,30,19,160 consisting of 21,30,19,160 equity shares. Post-conversion, Just Right Life Limited's stake increased from 5.02% to 6.44% in the company.
Dilution of 32 lakh shares increases outstanding equity, resulting in minor promoter group stake increase. This is a routine warrant conversion exercise rather than fresh capital infusion since the warrants were issued earlier in January 2025.