Allotment of 1339000 equity shares of face value of Rs.1/-each fully paid up to non-promoters consequent to the exercise of 1339000 warrants held by non-promoters.
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Last Mile Enterprises Ltd has allotted 1,339,000 equity shares with a face value of Rs. 1 each, fully paid up, to non-promoter shareholders. This allotment is consequent to the exercise of an equal number of warrants (1,339,000) previously held by non-promoters. Essentially, warrant holders chose to convert their warrants into actual equity shares, resulting in fresh equity issuance to non-promoter entities. This increases the total share capital of the company marginally and dilutes the existing shareholding structure slightly.
For existing shareholders, this is a mild dilution as new shares are issued, but since the warrants were already outstanding, the impact is largely already priced in. The conversion signals confidence from non-promoter warrant holders in the company's prospects.