Intimation of Conversion of warrants.
Price
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Awaiting price reaction for this filing.
ITCONS E-Solutions has allotted 8,70,200 fully paid-up equity shares of Rs. 10 each to 11 investors upon conversion of warrants originally issued on July 29, 2024. The company received Rs. 53.25 per warrant (the remaining 75% of the Rs. 71 issue price), raising Rs. 4.63 crore in total. The paid-up equity capital increased from Rs. 7.30 crore to Rs. 8.17 crore, with total shares rising from 73.03 lakh to 81.73 lakh. Promoters Gaurav Mittal, Swati Jain, and Adit Mittal were the largest allottees, collectively receiving about 5.74 lakh shares. After this conversion, 68.95 lakh warrants remain outstanding, with holders having 18 months to convert them by paying the remaining 75% of the exercise price.
This is a warrant-to-equity conversion, not fresh fundraising of new money beyond the previously committed exercise price. Promoter stakes have increased marginally, signalling continued promoter confidence, while small dilution comes from public allottees. The pending 68.95 lakh warrants represent future dilution risk if converted.