We hereby inform that Share Allotment Committee has agreed to allot 100,000 Equity Shares towards conversion of warrants as per attached details.
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Kilburn Engineering's Share Allotment Committee approved allotment of 1,00,000 equity shares (face value Rs. 10) to Firstview Trading Private Limited, a promoter-category entity, upon conversion of 1,00,000 convertible warrants originally issued on 16 November 2024 at Rs. 425 per warrant. The warrant holder paid the balance 75% (Rs. 318.75 per warrant) now, aggregating Rs. 3.1875 crore received by the company. The paid-up equity capital rose from Rs. 51.44 crore (5,14,37,858 shares) to Rs. 51.54 crore (5,15,37,858 shares). This is a partial conversion — only 1,00,000 out of 10,00,000 warrants originally issued have been converted so far, leaving 9,00,000 warrants potentially outstanding.
Minor dilution for existing shareholders (about 0.19% increase in share count) with promoter group increasing its holding. The conversion is at a healthy price of Rs. 425 per share, which is significantly above face value, indicating promoter confidence. Watch for further conversions of the remaining 9,00,000 warrants which could bring in up to Rs. 38.25 crore more and continue to dilute equity.