The Board of Directors at their meeting held today i.e. 08.05.2025, allotted 5,56,000 Equity Shares of Rs. 10/- each upon conversion of 5,56,000 warrants on preferential allotment basis.
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Jet Solar Ltd (formerly Jet Infraventure Limited) has allotted 5,56,000 equity shares of Rs. 10 each at an issue price of Rs. 21 (including Rs. 11 premium) upon conversion of an equal number of warrants on a preferential basis. The warrants were originally allotted on October 9, 2024, and the allottee paid the balance 75% amount of Rs. 15.75 per warrant, aggregating to Rs. 87,57,000. The sole allottee is Sangita Pravinkumar Tundiya from the Non-Promoter category, who now holds 4.68% of the company's equity. After this conversion, no warrants remain pending. The company's paid-up equity capital has increased to Rs. 11.87 crore, consisting of 1.18 crore fully paid-up equity shares.
This is a pre-planned conversion of warrants that were issued about 7 months ago, resulting in a modest 4.68% equity dilution from a single non-promoter investor. The new shares will rank equally with existing shares, and since no fresh capital beyond what was already committed is being raised, the impact on share price is likely to be limited.