Allotment of 750000 Equity shares against warrants to Non- promoter
HBESD · price
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HB Estate Developers has allotted 7,50,000 equity shares of face value ₹10 each to Meridian Securities Private Limited (a non-promoter) upon conversion of an equal number of convertible warrants. The issue price was ₹65.25 per share, including a premium of ₹55.25, for a total consideration of about ₹4.89 crore. The company received 75% of the issue price (₹3.67 crore) from the allottee at the time of seeking equity shares against the warrants, which were originally issued on April 17, 2024. After this allotment, Meridian Securities holds 3.38% stake in the company, and the total paid-up equity capital has risen to ₹22.96 crore (2,29,59,947 shares).
This is a warrant-to-equity conversion, so there is no fresh fundraising — shares simply move from warrant form to equity. Existing shareholders face minor dilution of about 3.27% from the new shares, while the company's capital structure strengthens. The event is largely procedural and unlikely to move the stock price meaningfully.