Pursuant To Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and relevant amendments thereto from time to time, We wish to inform you that, the Board ....
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Kranti Industries Ltd's board has approved the conversion of 2,50,000 warrants into an equal number of equity shares at ₹80 per share (including a ₹70 premium), allotted to Evolution Capital Advisory Services Private Limited, a non-promoter/public category investor. The company received ₹1.5 crore from the allottee, representing the remaining 75% of the warrant exercise price. Post-allotment, the company's paid-up equity capital rises to ₹12.76 crore, comprising 1,27,60,400 shares of ₹10 each. Evolution Capital's stake in the company increases to 12,50,000 shares (about 9.80%), up from 7.99% earlier. Another 2,50,000 warrants remain pending conversion, and the warrants carry an 18-month validity from their original allotment date of October 23, 2024.
This is a routine follow-up to the company's earlier preferential warrant allotment, bringing in an additional ₹1.5 crore and slightly diluting existing shareholders by about 0.2%. The remaining 2,50,000 warrants could bring in another ₹1.5 crore if converted, but there's no assurance they will be. No major price catalyst expected from this incremental allotment.