Outcome of meeting of the Preferential Issue Committee of the Board of Directors of Kesar India Limited ("the Company") in accordance with the provisions of Regulation 30 of the Securities ....
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Kesar India Limited's Preferential Issue Committee has approved the allotment of 14,55,235 equity shares of ₹10 each at ₹350 per share. These shares are being issued pursuant to the conversion of Fully Convertible Warrants that were originally allotted on September 18, 2025. The warrants were converted by 9 allottees including Promoter Gopal Gupta (6,20,953 shares) and 8 Non-Promoter investors. The paid-up equity share capital has increased to ₹30.03 crore divided into 3,00,28,464 shares. The warrant holders invested ₹50.93 crore (14,55,235 × ₹350) when warrants were issued and are now converting them to equity shares.
The warrant conversion is dilutive to existing shareholders as new equity is being issued. However, this brings in fresh capital of approximately ₹50.93 crore without any cash outflow for the company at this stage. Promoter stake has increased from this conversion.