Conversion of Convertible Equity Warrants into Equity Shares of the Company.
Price
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Gemstone Investments Ltd has converted 7.18 crore convertible warrants into 7.18 crore equity shares of face value ₹1 each. The conversion was done at ₹2.50 per share (₹1 face value + ₹1.50 premium), raising approximately ₹179.5 crore for the company. The shares were allotted to 7 non-promoter investors, including Mahevarsh Fincon (1.98 crore shares), Dhairya Management Services (2 crore shares), and 5 individual investors. All warrants have been fully converted with no pending conversions remaining.
This conversion will significantly dilute the company's equity base as 71.8 million new shares enter the market. Existing shareholders will see their ownership percentage reduced. The company receives capital infusion without additional cash outlay from investors.