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 + premium Rs. 80) upon conversion of equal number of warrants. The allottee is Just Right Life Limited, a promoter group entity. These warrants were originally issued on January 18, 2025, with 25% paid upfront and the balance 75% paid upon conversion. Of the total 1.5 crore warrants originally allotted, 1.05 crore had already been converted previously, and 32 lakh are now being converted in this tranche, leaving 12.75 lakh warrants pending conversion. Post-allotment, Just Right Life Limited's holding increased from 5.02% to 6.44%.
This conversion increases the company's paid-up capital to Rs. 21.30 crore across 21.30 crore shares. The promoter group's stake has increased modestly by 1.42 percentage points, resulting in some dilution for existing public shareholders.