Ester Industries Limited has informed the Exchange about General Updates
ESTER · price
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Ester Industries Limited's Board of Directors has approved the allotment of 67,08,851 equity shares of Rs. 5 each at Rs. 158 per share (including Rs. 153 premium). The shares were issued upon conversion of warrants allotted on 12th November 2024. The major allottee is Promoter Mr. Arvind Singhania receiving 37,97,468 shares, while K&K Ventures (15,82,278 shares) and four trust entities (2,65,821 shares each) received shares in the public category. This conversion brings Rs. 105.96 crore to the company. Post-allotment, the paid-up equity share capital increased to Rs. 52.15 crore comprising 10,42,95,042 shares.
Existing shareholders will experience dilution as the total share count increased by 6.87%. The Promoter holding increased through Mr. Singhania's conversion of his warrants, consolidating his stake in the company.