CONVERSION OF WARRANTS INTO EQUITY SHARES.
Price
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Awaiting price reaction for this filing.
The company has converted 63,84,000 fully convertible warrants into equity shares of face value Rs. 5 each at an exercise price of Rs. 25 per share (a premium of Rs. 20). This follows the original allotment of 1,93,00,000 warrants on December 16, 2025, on a preferential basis. The company received the balance 75% payment of Rs. 18.75 per warrant, aggregating to about Rs. 11.97 crore from both promoter and non-promoter allottees. As a result, the issued and paid-up capital has increased from 14,212,400 shares (Rs. 7.11 crore) to 20,596,400 shares (Rs. 10.30 crore). About 1,29,16,000 warrants remain outstanding and can be converted within 18 months from the original allotment date.
This is a dilution event for shareholders — the share count rises by about 45% (from 1.42 crore to 2.06 crore shares), but the company strengthens its capital base by Rs. 3.19 crore. Promoter entity Nico India Consultancy LLP saw its holding rise from 17.50% to 21.37%, signalling continued promoter confidence. Existing shareholders may face some near-term price pressure from the increased float.