We hereby inform that Share Allotment Committee has allotted 15,35,000 Equity Shares towards conversion of warrants as per attached details.
KLBRENG-B · price
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Kilburn Engineering's Share Allotment Committee allotted 15,35,000 equity shares (face value Rs. 10 each) to two non-promoter allottees upon conversion of convertible warrants. Procheta Consultants Private Limited received 15,00,000 shares and Yuvsan Capital Advisory LLP received 35,000 shares, both at an issue price of Rs. 425 per warrant. The warrants were originally allotted on November 16, 2024, with 25% paid upfront (Rs. 106.25 per warrant) and the balance 75% (Rs. 318.75 per warrant) received upon conversion. The total consideration amounted to Rs. 65.24 crore. Additionally, 2,35,000 warrants held by Ovata Equity Strategies Master Fund lapsed due to non-payment of the balance amount, resulting in forfeiture of Rs. 2.50 crore upfront subscription amount retained by the company. Post-allotment, the paid-up capital increased from Rs. 54.47 crore to Rs. 56.00 crore.
Dilution of approximately 2.83% from warrant conversion; the lapse of Ovata warrants and forfeiture of their upfront payment provides a small non-cash gain to the company. Non-promoter holding increases as warrants convert to equity.