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Hit Kit Global Solutions has allotted 50,00,000 equity shares of Rs. 2 each to Glimmer Enterprise Private Limited on conversion of convertible warrants. This is the third tranche of conversion done on a preferential basis, following the special resolution passed on 24 May 2024. The allottee paid the remaining 75% consideration of Rs. 1.5 per share (totalling Rs. 75 lakhs), having already paid 25% at the time of warrant subscription. As a result, Glimmer Enterprise's stake in the company rose from 6.04% to 14.76%, and the company's paid-up equity capital increased to Rs. 10.78 crore divided into 5.39 crore equity shares.
Dilution for existing shareholders as the promoter's stake rises sharply from 6% to nearly 15%, though no fresh capital inflow beyond the already-agreed warrant conversion price. The shares rank pari-passu with existing equity, and further tranches could continue until June 2026 under the 18-month exercise window.