Ind-Swift Laboratories Limited has informed the Exchange about Conversion of Fully Convertible Warrants into Equity.
INDSWFTLAB · price
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Awaiting price reaction for this filing.
Ind-Swift Laboratories has allotted 11,00,000 equity shares (face value ₹10 each) to Essix Biosciences Limited, part of the promoter and promoter group, upon conversion of an equal number of Fully Convertible Warrants. These warrants were originally allotted on August 30, 2024, at an issue price of ₹121 per share, and the company has now received the balance subscription amount of about ₹9.98 crore. As a result, the company's paid-up equity share capital has risen to ₹73.49 crore, divided into 7.34 crore equity shares of ₹10 each.
This conversion increases the promoter group's stake in the company, signalling continued promoter confidence, while the share count rises modestly. Since the warrants were allotted earlier and priced at ₹121, this was an anticipated event and is unlikely to cause any surprise movement in the stock price.