Allotment of Warrants convertible into Equity Shares as attached
GNRL · price
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Gujarat Natural Resources Ltd has allotted 2,50,00,000 convertible warrants to two non-promoter allottees at Rs. 21.70 per warrant. The allottees are Vansh Ravi Agrawal (1 crore warrants) and JA Spaces LLP (1.5 crore warrants). The company has already received Rs. 13.56 crore as 25% upfront payment, with the remaining 75% (Rs. 16.275 per warrant) to be paid within 18 months upon conversion into equity shares of Rs. 10 face value. The total potential raise is Rs. 54.25 crore if all warrants are fully converted. Approval was received from shareholders in March 2025 and from BSE in May 2025.
This brings in immediate capital of Rs. 13.56 crore and potentially Rs. 54.25 crore on full conversion, strengthening the company's funds. However, shareholders should note the dilution risk — once converted, these warrants will create 2.5 crore additional equity shares, which could weigh on earnings per share and put short-term pressure on the stock price.