Manaksia Coated Metals & Industries Limited has informed the Exchange regarding 'Allotmen t of securitties'.
MANAKCOAT · price
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On the reaction day the stock moved 5.6 pts more than Nifty Microcap 250 and 6.0 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Manaksia Coated Metals & Industries Limited has allotted 11,82,500 equity shares of Re. 1 each at Rs. 65 per share (including a Rs. 64 premium), following the conversion of an equal number of warrants. These warrants were originally issued on a preferential basis on January 30, 2025, and the allottees have now paid the remaining 75% balance amount of Rs. 48.75 per warrant, totalling Rs. 5,76,46,875. The shares were allotted to two non-promoter/public category allottees — Sharda Subhashchandra Bhat (4,63,000 shares) and Minal Prakash Deshpande (7,19,500 shares). Post-allotment, the company's paid-up equity capital stands increased to Rs. 10,58,34,050 (10,58,34,050 shares), with 28,00,000 warrants still pending conversion.
This is a routine warrant-to-equity conversion and not a fresh capital raise from the market. The new shares will dilute existing shareholders marginally (combined promoter/public holdings of the allottees rise to about 2.92%), but since the price was set when warrants were originally allotted, the dilutive impact was already priced in. Remaining outstanding warrants (28,00,000) could cause further dilution when converted.