Allotment of Equity Shares pursuant to conversion of warrants_as attached
GNRL · price
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Gujarat Natural Resources Limited has allotted 2,50,00,000 equity shares (face value Rs. 10 each) at an issue price of Rs. 21.70 per share, including a premium of Rs. 11.70. These shares were issued upon conversion of an equal number of convertible warrants held by two non-promoter (public) allottees — Vansh Ravi Agrawal (1 crore shares) and JA Spaces LLP (1.5 crore shares). The company received the remaining 75% exercise money of Rs. 16.275 per warrant, totalling about Rs. 40.69 crore. After this allotment, the company's paid-up equity capital stands increased to Rs. 153.40 crore, consisting of 15.34 crore equity shares. The board meeting approving this ran from 2:30 PM to 2:45 PM on 1st November 2025.
This is a positive development for the company as it brings in additional capital (Rs. 40.69 crore) and strengthens the equity base, but it also dilutes existing shareholders by issuing 2.5 crore new shares. Shareholders should note the small increase in share count relative to total capital (~16% expansion of equity base from this tranche).