Manaksia Coated Metals & Industries Limited has informed the Exchange regarding 'Outcome of Warrant/Equity Shares Allotment Committee Meeting held on June 25, 2025'.
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Manaksia Coated Metals & Industries allotted 49,72,500 equity shares at Rs. 65 each (face value Re. 1, premium Rs. 64) following the conversion of an equal number of warrants on a preferential basis. The company received Rs. 24.24 crores as the balance 75% amount (Rs. 48.75 per warrant) from 12 non-promoter/public allottees. These warrants were originally issued on January 30, 2025 at Rs. 65 each, with 25% paid upfront. As a result, the company's paid-up equity capital has risen to Rs. 10.46 crores, consisting of 10,46,51,550 shares. About 39,82,500 warrants are still pending conversion into equity shares.
This is the conversion of previously issued warrants into shares, so the dilution was already anticipated by the market. The company receives the balance cash, strengthening its funds, while existing shareholders see their holdings marginally diluted as non-promoter shareholding rises to 9.13% post-conversion.