Manaksia Coated Metals & Industries Limited has informed the Exchange regarding 'Allotmen t of securitties'.
MANAKCOAT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
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.