Allotment of 400000 equity shares upon conversion of Warrants
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Kinetic Engineering Ltd has allotted 4,00,000 equity shares (face value Rs.10 each) at a premium of Rs.161 per share, making the issue price Rs.171 per share. The total value of the allotment is Rs.6.84 crore. The shares were issued to two non-promoter allottees — Transaction Square LLP and Sai Geeta Penumetsa — each receiving 2,00,000 shares upon conversion of equal number of warrants. Both allottees had no prior shareholding in the company, and no warrants remain pending for conversion after this exercise.
This is a non-dilutive-equivalent event — existing warrant holders are converting into shares, so the equity base expands by 4 lakh shares. For shareholders, this is a modest equity dilution (~Rs.6.84 crore raised already at the time of warrant subscription), and with no warrants left pending, the overhang from this preferential issue is now cleared.