Conversion of Warrants into Equity Shares.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gemstone Investments Ltd has approved the conversion of 2,98,40,000 (approximately 2.98 crore) convertible warrants into an equal number of equity shares of face value ₹1 each. The conversion was done at a price of ₹2.50 per share, which includes a premium of ₹1.50, raising a total of approximately ₹5.59 crore. The full subscription amount (75% received earlier and balance now) has been paid. All shares were allotted to two non-promoter allottees: Urmila Shailesh Shah (1.98 crore shares) and Anita Agrawal (1 crore shares). This is a preferential allotment via warrant conversion, and no warrants remain pending for conversion.
This is a dilution event — the company's equity share count has increased by 2.98 crore shares, which may put short-term pressure on the stock price. However, the company has already received the full subscription money, so there is no cash inflow risk. Existing shareholders should expect a proportional reduction in their ownership stake.