Please find the attached Outcome of the Board Meeting for Allotment of Equity Shares pursuant to Conversion of Warrants.
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The Board of Directors of Hit Kit Global Solutions Ltd, at a meeting held on 09 June 2025, approved the allotment of the first tranche of 20,00,000 equity shares of Rs. 2 each, fully paid up, pursuant to the conversion of 20,00,000 convertible warrants on a preferential basis. The warrants were originally allotted on 17 June 2024 following shareholder approval on 24 May 2024. The sole allottee is Brillant Properties Private Limited, which has now paid the balance 75% consideration of Rs. 1.5 per share (totalling Rs. 30 lakh) after the initial 25% paid at the time of warrant subscription. Following this allotment, Brillant Properties holds 4.13% of the company's share capital. The company's paid-up equity share capital has increased to Rs. 9.68 crore, divided into 4.84 crore equity shares of Rs. 2 each.
This is a routine warrant-to-equity conversion that slightly dilutes existing shareholders and introduces Brillant Properties Private Limited as a new shareholder holding 4.13% stake. The price of Rs. 2 per share is at face value, which is on the lower end, but since the warrants were already approved and partly paid, there is no fresh dilution impact beyond what was already priced in.