Revised Outcome of Board Meeting held on 5th May, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors of Leading Leasing Finance and Investment Company Ltd, at its meeting on 5th May 2025, approved the conversion of 5,50,00,000 (5.5 crore) convertible warrants into an equal number of equity shares of face value Rs. 1 each. The warrants were originally allotted on 13th November 2024 at an issue price of Rs. 7.40 per share (Rs. 1 face value + Rs. 6.40 premium) on a preferential basis. The company received Rs. 30.525 crore as the balance 75% amount (Rs. 5.55 per warrant) from the allottees upon conversion. Two allottees participated: Unico Global Opportunities Fund Limited (2.5 crore shares) and Al Maha Investment Fund PCC-Onyx Strategy (3 crore shares). Forbes EMF did not convert any warrants this round. Following this allotment, the company's paid-up equity share capital has increased to Rs. 49.4565 crore, consisting of 49,45,65,500 equity shares.
This is a dilution event as 5.5 crore new shares are being issued to existing warrant holders, increasing the share count and reducing each shareholder's proportional holding. However, the conversion was already priced in since warrants were allotted earlier, so the market impact may be limited. Existing shareholders should note the expanded share base going forward.