Ind-Swift Laboratories Limited has informed the Exchange about Conversion
INDSWFTLAB · price
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Ind-Swift Laboratories has allotted 65,82,876 equity shares (face value ₹10 each) upon conversion of an equal number of fully convertible warrants that were originally issued on August 30, 2024. The conversion price was ₹121 per share, and the company received a balance subscription amount of approximately ₹59.74 crore from this conversion. Allottees include promoter entity Essix Biosciences Limited (11,00,000 shares), and non-promoters HCP Investments (30,14,876 shares) and Zeal Global Opportunities Fund (24,68,000 shares). Following this allotment, the company's paid-up equity share capital has increased to ₹67.20 crore, divided into 6.72 crore equity shares of ₹10 each.
This is a dilutive event for existing shareholders as the share count has expanded, though the company has strengthened its equity base by ~₹59.74 crore. Investors should note the expanded share base when evaluating per-share metrics going forward.