Allotment of 10,75,000 Equity shares consequent to conversion of Convertible Warrants
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Ganga Pharmaceuticals Limited (Scrip Code: 539680) has allotted 10,75,000 equity shares of face value Rs. 10/- each at an issue price of Rs. 14/- per share, pursuant to the conversion of an equal number of Convertible Warrants on a preferential basis. The shares were allotted to 5 allottees — 2 Promoters (Srijana Bharat Sharma and Anagh Bharat Sharma) and 3 Non-Promoters (Plutus Capital Management LLP, Bhavesh Dhirajlal Tanna, and Atul Ramshankar Jaiswal) — upon receipt of the balance 75% of the warrant subscription money. The Board of Directors approved the allotment at its meeting held on July 17, 2025. Consequently, the paid-up equity share capital of the company has increased from Rs. 4,83,65,000 to Rs. 5,91,15,000, comprising 59,11,500 fully paid-up equity shares. The disclosure has been made to BSE under Regulation 30 of the SEBI Listing Regulations, 2015.
The conversion of warrants into equity shares results in equity dilution for existing shareholders while strengthening the company's paid-up capital base. Promoter participation in the conversion signals continued promoter confidence, though the marginal premium of Rs. 4 over face value is a relatively low entry point for incoming allottees.