Board approves conversion of 3 crore warrants into equity shares

Warrants ConvertedFund Raising View source PDF

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AI summary

Gemstone Investments board on June 19, 2026 approved converting 3 crore convertible warrants into 3 crore equity shares at Rs 2.50 each (face value Rs 1, premium Rs 1.50), aggregating Rs 5.625 crore. Allotted to 3 non-promoters - Satyam Joshi, Bijay Agrawal, and Anura Joshi - 1 crore shares each via preferential issue. No warrants remain pending for conversion.

Likely market impact

Dilution of 3 crore new shares to non-promoters; expands equity base. All warrants fully converted, removing future overhang.