Likhitha Infra allots 25 lakh convertible warrants at Rs 240 each
LIKHITHA · price
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Likhitha Infrastructure allotted 25 lakh convertible warrants to 21 allottees (promoters and non-promoters) on a preferential basis at Rs 240 per warrant, totaling up to Rs 60 crore. The company has received 25 percent upfront, amounting to Rs 15 crore. Warrants can be converted into equal equity shares within 18 months by paying the exercise price of Rs 180, which is 75 percent of the issue price. No change in paid-up capital occurs at this stage.
Potential equity dilution when warrants are exercised. Raises up to Rs 60 crore if fully converted. Promoter stake rises slightly.