Allotment of 180000 equity shares pursuant to conversion of warrants. and detailed letter attached.
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Jayant Infratech Ltd has allotted 1,80,000 equity shares to Hardik Dilip Parekh (a non-promoter individual) at ₹113 per share (face value ₹10 + premium ₹103) following the conversion of warrants. This is part of a larger preferential issue of 22,22,000 convertible warrants originally announced on February 22, 2024, priced at ₹113 per warrant. The allottee paid the remaining 75% of the warrant price (₹84.75 per warrant), bringing in ₹1.52 crore to the company. With this allotment, the company's paid-up equity capital has increased from ₹10.16 crore (1,01,56,686 shares) to ₹10.34 crore (1,03,36,686 shares). As of the table provided, 6,30,000 shares have been allotted in total across all warrant conversions, while 15,92,000 warrants are still pending conversion.
This is a small dilution of about 1.8% in the equity base from the current allotment. The cash inflow of ₹1.52 crore is modest and the allottee is a non-promoter individual, not a marquee institutional investor. Existing shareholders should note the gradual equity creep from ongoing warrant conversions under the original 2024 preferential issue.