Kridhan Infra Limited has informed the Exchange about Conversion of warrants into Equity Shares

Warrants ConvertedFund Raising View source PDF

KRIDHANINF · price

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-9.9%1-day move

₹3.04

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₹3.00

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AI summary

Kridhan Infra Limited has allotted 1.20 crore fully paid-up equity shares of ₹2 each upon conversion of warrants. The shares were issued at ₹4.05 per share (including ₹2.05 premium), aggregating to ₹48.6 crore. Three investors participated: Shri Bajrang Commodity LLP received 72 lakh shares, Mr. Shashwat Agrawal received 36 lakh shares, and Mr. Sanjay Kumar Agrawal received 12 lakh shares. The conversion happened after receipt of the balance 75% of the issue price from warrant holders.

Likely market impact

This dilution increases the equity base by 12 million shares. The conversion signals completion of a preferential warrant issue cycle and brings fresh capital to the company. Existing shareholders face dilution but the company gains equity capital.