Conversion of Convertible Equity Warrants into Equity Shares of the Company.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gemstone Investments' board has approved the conversion of 71.8 million convertible warrants into 71.8 million equity shares at ₹2.50 per share (face value ₹1 plus premium of ₹1.50). The conversion generated ₹179.5 million for the company. Seven non-promoter investors participated, including Mahevarsh Fincon Private Limited (19.8 million shares), Dhairya Management Services Private Limited (20 million shares), and five individual investors. All warrants have been fully converted with zero pending conversions.
This large conversion significantly dilutes existing shareholders' stakes. The issuance at ₹2.50 per share to a small group of non-promoter investors could create minor overhang pressure on the stock in the near term.