We hereby inform that Share Allotment Committee has agreed to allot 12,08,032 Equity Shares towards conversion of warrants as per attached details
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Kilburn Engineering has allotted 12,08,032 equity shares (face value Rs. 10) to M/s. Tusk Investments Limited at Rs. 166 per share, pursuant to the conversion of warrants that were originally issued on 7 February 2024. The company received approximately Rs. 15.04 crore as the balance 75% subscription amount on these warrants. This was a preferential allotment to a single public-category investor. Following this allotment, the paid-up equity share capital of the company increased from Rs. 49.84 crore (4.98 crore shares) to Rs. 51.05 crore (5.10 crore shares), a rise of about 2.4% in the share count. Out of the remaining 16,00,000 warrants, 12,08,032 have now been converted into equity shares.
This is a pre-planned conversion of warrants issued earlier, so the dilution was largely anticipated by the market. Shareholders see a modest ~2.4% increase in share count, but no fresh cash beyond the pre-committed warrant money. Existing shareholders may experience slight EPS dilution going forward.