Lokesh Machines Limited has informed the Exchange regarding 'Allotment of 4,03,040 Equity Shares pursuant to Conversion of Warrants'.
LOKESHMACH · price
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Lokesh Machines has allotted 4,03,040 equity shares to three promoter allottees (Mullapudi Srinivas, Mullapudi Lokeswara Rao, and Bollineni Kishore Babu) upon conversion of warrants originally issued on January 11, 2024. The issue price was Rs. 243.25 per share (face value Rs. 10 + premium Rs. 233.25), and the company received Rs. 7.35 crore as the balance 75% warrant exercise price. Post this allotment, the company's paid-up equity share capital has risen to Rs. 19.75 crore, comprising 1.97 crore equity shares. Around 2.43 lakh warrants are still pending conversion by two of the promoter allottees.
This is a promoter-led warrant conversion, so there is no change in promoter ownership percentage, only a marginal dilution (~0.2%) for existing public shareholders. The Rs. 7.35 crore inflow strengthens the company's equity base with no debt involved.