The Company considered and approved allotment of 245600 equity shares on conversion of warrants.
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Jhaveri Credits & Capital has allotted 2,45,600 equity shares of Rs. 10 face value to Riddhi Landmark LLP (a non-promoter entity) upon the conversion of equal number of warrants. These warrants were originally issued on a preferential basis on March 6, 2024 at a total issue price of Rs. 285 per warrant (Rs. 71.25 subscription price + Rs. 213.75 exercise price). The warrant holder has now paid the 75% exercise price, triggering the conversion. This brings the total paid-up equity capital to Rs. 8,98,59,360 divided into 89,85,936 shares of Rs. 10 each. Note: The filing states the capital 'stands increased' but the actual share count appears to have decreased from 92,31,536 to 89,85,936, which may indicate a separate corporate action not detailed in this disclosure.
This is a minor equity dilution (~2.7% increase in share count) with the company receiving roughly Rs. 5.27 crore (75% of the exercise price) as fresh capital. For existing shareholders, the impact is minimal — a small increase in share count without any change in the business, and the capital infusion modestly strengthens the company's equity base.