Outcome of Preferential Allotment Committee is enclosed
Price
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Exhicon Events Media Solutions has allotted 7,95,000 equity shares of face value Rs. 10 each at an issue price of Rs. 315 per share (including a premium of Rs. 305), following the conversion of an equal number of convertible warrants held by non-promoter allottees. The warrant holders paid the remaining 75% exercise price of Rs. 236.25 per warrant, bringing in Rs. 18.78 crore to the company. All 17 allottees belong to the non-promoter category, with the largest being Naresh Saraaf (1,53,000 shares) and Sadashiv Kanyana Shetty (1,11,000 shares).
The conversion increases the company's share count by 7,95,000 equity shares but does not bring in fresh capital beyond the already-paid warrant amounts (only the remaining 75% was due). Share dilution occurs at a significant premium to face value, and the non-promoter nature of allottees suggests strategic or financial investor interest.