Himadri Speciality Chemical Limited has informed the Exchange regarding allotment of 308000 equity shares upon conversion of equal number of Warrants.
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Awaiting price reaction for this filing.
Himadri Speciality Chemical has allotted 3,08,000 new equity shares (face value Re. 1) after 9 warrant holders converted an equal number of warrants into shares. The company received Rs. 7.30 crore (Rs. 7,29,96,000) as the balance 75% exercise price at Rs. 237 per warrant. This is part of the original preferential warrant issue of 14 May 2024, when 1,08,17,000 warrants were issued at Rs. 316 each (Rs. 79 subscription + Rs. 237 exercise) to 28 allottees. Following this conversion, the paid-up share capital has increased to Rs. 49.42 crore, comprising 49,41,57,499 equity shares. The new shares will rank equally with existing shares.
Dilution is negligible — the 3.08 lakh new shares represent just about 0.006% of the total ~49.42 crore share base, so meaningful impact on share price or shareholder value is unlikely. The conversion signals continued confidence from the warrant holders, who are paying the full exercise price.