Allotment of 12,66,000 Convertible Warrants to Non-Promoter Category.
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LE Lavoir Limited's board approved the allotment of 12,66,000 convertible warrants to non-promoter category allottees on a preferential basis. Each warrant is priced at Rs. 264.75 (including a Rs. 254.75 premium over the Rs. 10 face value) and can be converted into one equity share within 18 months. Allottees have paid 25% upfront consideration, totaling approximately Rs. 8.38 crores, with the remaining 75% due at the time of conversion. The allottees comprise 14 individuals and one entity (Samosaran Syntex Pvt. Ltd.), with the largest being Ashok Dilipkumar Jain allotted 4,88,700 warrants. The total potential equity dilution stands at up to 12.66 lakh shares once warrants are fully converted.
Existing shareholders face potential dilution of up to 12.66 lakh new equity shares, but the company receives immediate capital of ~Rs. 8.38 crores upfront, which could strengthen its balance sheet. Investors should monitor the eventual conversion and the purpose of fund utilization.