We hereby inform that the Share Allotment Committee has allotted 992500 Equity shares towards conversion of warrants as per attached details.
KLBRENG-B · price
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Kilburn Engineering's Share Allotment Committee approved allotment of 9,92,500 equity shares of Rs. 10 face value each at Rs. 425 per share, totalling approximately Rs. 42.18 crore. This conversion relates to warrants originally allotted on November 16 and 19, 2024, where 25% (Rs. 106.25 per warrant) was paid upfront and the balance 75% (Rs. 318.75 per warrant) was received now. Eight allottees received shares, including Promoter entity Firstview Trading Private Limited (3,00,000 shares), Independent Director Ms. Priya Saran Chaudhri (10,000 shares), and several non-promoter entities and individuals. Post-allotment, the company's paid-up capital increased from Rs. 53.47 crore to Rs. 54.47 crore, adding 9,92,500 new shares to the market.
This is a dilutive event for existing shareholders as ~9.93 lakh new shares have been issued. The warrant conversion at Rs. 425 per share signals that investors were willing to pay a significant premium (42.5x face value) to convert, which could indicate confidence in the company's prospects. Promoter holding increased via Firstview Trading.