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Awaiting price reaction for this filing.
Exhicon Events Media Solutions has allotted 3,76,000 equity shares to five non-promoter allottees upon conversion of their convertible warrants. The shares were issued at Rs. 315 each (Rs. 10 face value + Rs. 305 premium). The company received Rs. 8.88 crore as the remaining 75% exercise price from the warrant holders. The largest allottee, Joshi Anura Satyam, received 1,50,000 shares, followed by Minal Prakash Deshpande with 1,00,000 shares. This is not a fresh fundraising but the conversion of warrants that were previously issued, so the share dilution was already anticipated.
Share count goes up by 3,76,000 shares (mild dilution), and the company pockets about Rs. 8.88 crore in cash. Since this is a pre-committed warrant conversion, there is unlikely to be any surprise reaction in the stock price — the dilution was already priced in when the warrants were originally issued.