Ind-Swift Laboratories Limited has informed the Exchange about Conversion
INDSWFTLAB · price
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Ind-Swift Laboratories has allotted 51,00,000 equity shares (face value ₹10 each) following the conversion of an equal number of Fully Convertible Warrants originally issued on August 30, 2024. The conversion price is ₹121 per share, with the balance subscription amount of ₹46.28 crore received from Essix Biosciences Limited, part of the promoter and promoter group. As a result, the company's paid-up equity share capital has risen to ₹86.71 crore, divided into 8,67,11,558 equity shares. The decision was approved by the Preferential Issue Committee of the Board on February 24, 2026.
This is a dilution-neutral event for existing shareholders since it completes a previously announced preferential warrant issue to the promoter group, and signals promoter confidence in the company's growth. However, the share count has risen by about 6.2%, which slightly dilutes non-promoter shareholders' stake.