Allotment of Equity Shares pursuant to conversion of warrants
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Leading Leasing Finance has converted 1,00,00,000 (one crore) convertible warrants into an equal number of fully paid-up equity shares of Rs. 1 face value. These warrants were originally issued on 13 November 2024 on a preferential basis at Rs. 7.40 per warrant (Rs. 1 face value + Rs. 6.40 premium), totaling 12,90,00,000 warrants. With this latest tranche, the company received Rs. 5,55,00,000 (Rs. 5.55 per warrant) representing the balance 75% of the issue price. The primary allottee in this round was Unico Global Opportunities Fund Limited, which converted 1,00,00,000 warrants. After this allotment, the company's paid-up equity share capital has risen to Rs. 56,35,65,500, consisting of 56,35,65,500 equity shares. About 50,00,000 warrants remain pending for conversion across the remaining holders.
Existing shareholders face further dilution of about 1.78% on the equity base as new shares are issued. The fresh equity will be listed and traded, potentially adding short-term supply pressure on the stock, though the company does gain additional capital (Rs. 5.55 crore in this tranche) without any debt burden.