Allotment of Equity shares pursuant to conversion of fully convertible warrants
ESTER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ester Industries has allotted 67,08,851 equity shares of Rs. 5 face value each upon conversion of fully convertible warrants that were originally allotted on 12th November 2024 at Rs. 158 per warrant (including Rs. 153 premium). The total consideration worked out to approximately Rs. 106 crore. Major allottee was promoter Mr. Arvind Singhania receiving 37,97,468 shares, followed by public entity K&K Ventures with 15,82,278 shares. Six family trusts collectively received 15,94,926 shares. The paid-up equity capital has increased to Rs. 52.15 crore comprising 10,42,95,042 shares.
This conversion increases the company's equity base by about 6.9%, causing dilution for existing shareholders. The promoter group has strengthened its position through the conversion. The company has raised approximately Rs. 106 crore from the original warrant issue.