Approval for allotment of Equity Shares upon Conversion of Preferentially Issued ConvertibleWarrants to Non-Promoters
LLOYDSME · price
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The board approved allotment of 31,00,000 equity shares (face value Rs 1) to non-promoter warrant holders upon conversion of 31 lakh convertible warrants originally issued at Rs 740 per warrant. The company received Rs 149.11 crore as the balance 65% subscription amount, with a premium of Rs 739 per share. The allottees include Choesion MK Best Ideas Sub-Trust (12 lakh shares), Chartered Finance & Leasing (8 lakh), Manorama Advisors LLP (5 lakh), Shah Kinnari (3 lakh), and Shah Bela (3 lakh). This increases the paid-up equity capital from 52,33,48,232 to 52,64,48,232 shares. Separately, the board approved Q1 FY26 results showing standalone profit after tax of Rs 634.58 crore on total income of Rs 2,408.43 crore, along with a Rs 2,500 crore NCD public issue plan and a Dubai subsidiary proposal.
The warrant conversion brings in Rs 149.11 crore of fresh capital with minimal share dilution (under 0.6%) and confirms strong investor confidence at the originally committed Rs 740 price. Shareholders should note multiple expansion moves: acquisitions in pellet companies, a large NCD raise plan, and a Dubai subsidiary, all of which signal aggressive growth plans that may pressure near-term margins but support long-term capacity expansion.