Allotment of 1,06,668 Equity Shares to Promoter upon conversion of Warrants into Equity Shares
Price
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Fredun Pharmaceuticals has allotted 1,06,668 equity shares to its promoter, Mr. Fredun Nariman Medhora, after he converted an equivalent number of warrants into shares. The warrants were originally issued on a preferential basis on December 29, 2025, at ₹1,250 per warrant. The promoter paid the remaining 75% balance consideration of ₹937.50 per warrant, totaling about ₹10 crore. Of the 1,60,000 warrants originally allotted, 53,332 are still outstanding and pending conversion. The new shares will rank equally with existing equity shares.
This is a promoter-led capital infusion, which signals confidence from the promoter in the company's future. However, it also results in equity dilution for existing shareholders. The premium pricing (₹1,250 vs face value of ₹10) means the promoter is paying well above par, which is generally a positive signal.