Enclosed.
LOKESHMACH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Lokesh Machines Ltd has allotted 13,00,000 equity shares to 6 non-promoter allottees (including Zenila Ventures LLP, RLP Securities Pvt Ltd, and individual investors) at Rs. 181.71 per share, raising Rs. 23.62 crore. The company also allotted 27,77,919 convertible warrants to 9 allottees (including promoters like Bollineni Kishore Babu, Mullapudi Srikrishna, Srinivas Mullapudi, and non-promoters like Ashok Atluri) at Rs. 181.71 per warrant, with 25% (Rs. 45.43) paid upfront and 75% (Rs. 136.28) payable on conversion. Total warrant consideration amounts to Rs. 50.48 crore. The equity share capital will increase from 1,99,96,770 to 2,12,96,770 shares. Upon full conversion of warrants, an additional 27,77,919 shares will be issued, causing further dilution.
This preferential allotment will dilute existing shareholders as nearly 14% more shares may enter the market upon warrant conversion. The Promoter group is increasing their holding through warrant conversion while external investors are also participating.