Board allots 65 lakh convertible warrants to promoters at Rs 56.84 each
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Lippi Systems has allotted 65,00,000 convertible equity warrants to 5 promoter-group allottees on a preferential basis at Rs 56.84 per warrant, aggregating to about Rs 36.94 crores. The company has received 25 percent (Rs 9.23 crores) upfront, with the balance 75 percent payable within 18 months upon conversion into equity shares of Rs 10 face value. Post conversion, promoter holding will rise to about 74 percent. No immediate change in paid-up share capital.
Promoter holding will rise to about 74 percent post conversion. Significant dilution risk for public shareholders, though no immediate equity change.