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Awaiting price reaction for this filing.
The Board of Directors of Leading Leasing Finance and Investment Company Ltd, at its meeting on May 9, 2025, approved the conversion of 2,00,00,000 (2 crore) convertible warrants into an equal number of equity shares at Rs. 7.40 per share (including Rs. 1 face value and Rs. 6.40 premium). The company received Rs. 11.10 crores from the warrant holders (at Rs. 5.55 per warrant, representing the balance 75% of the issue price). These warrants were originally part of a 12.9 crore preferential allotment made on November 13, 2024. After this conversion, the paid-up equity share capital of the company rises to Rs. 51.45 crores, comprising 51,45,65,500 equity shares of Rs. 1 each, with 5.4 crore warrants still pending conversion.
This is a pre-scheduled warrant-to-equity conversion under a preferential allotment and does not bring new external capital beyond what was already committed in November 2024. The dilution from these 2 crore new shares may put mild short-term pressure on the stock price, but since the issue price of Rs. 7.40 was fixed earlier, the immediate financial impact is largely priced in.