We hereby inform that Share Allotment Committee has agreed to allot 2,50,000 equity shares towards conversion of warrants as per attached details.
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Kilburn Engineering's Share Allotment Committee approved the allotment of 2,50,000 equity shares (face value Rs. 10 each) at an issue price of Rs. 166 per share to M/s. Alexcy Marketing Private Limited. This allotment is on conversion of warrants that were originally issued on 7th February 2024, with the allottee paying the balance 75% subscription amount, aggregating to Rs. 3.11 crore. As a result, the company's paid-up equity capital has risen from Rs. 47.79 crore (4,77,87,858 shares) to Rs. 48.04 crore (4,80,37,858 shares). The new shares will rank pari passu with existing equity shares.
This is a pre-scheduled warrant conversion, not fresh fundraising, so it is largely neutral for shareholders. There is a minor dilution of about 0.52% from the new shares, and the company receives Rs. 3.11 crore in cash from the warrant holder exercising their option.