Lokesh Machines Limited has informed the Exchange regarding 'Allotment of Securities'.
LOKESHMACH · price
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Lokesh Machines Limited has allotted 2,43,398 equity shares of Rs. 10 each upon conversion of warrants by two promoter allottees, Mullapudi Lokeswara Rao and Bollineni Kishore Babu. The shares were issued at a price of Rs. 243.25 per share (Rs. 10 face value + Rs. 233.25 premium), and the company received Rs. 4.44 crore as the warrant exercise price (75% of the total issue price). Following this allotment, the company's paid-up equity share capital increased to Rs. 19.99 crore, comprising 1,99,96,770 fully paid-up equity shares. The original warrant issue of 15,00,000 warrants was made on a preferential basis in January 2024 to 4 allottees, and these are the first conversions from that issue.
This is a routine warrant-to-equity conversion by promoters, indicating their continued commitment and confidence in the company. The new shares will rank pari-passu with existing shares, leading to a minor dilution (about 1.2% increase in share count) for existing shareholders.