Man Infraconstruction Limited has informed the Exchange regarding allotment of 29,66,220 equity shares pursuant to conversion of Warrants issued on Preferential Basis at the meeting of Allotment Committee held on July 11, 2025.
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Man Infraconstruction Limited's Allotment Committee, at its meeting on July 11, 2025, approved the conversion of 29,66,220 warrants into an equal number of equity shares of face value Rs. 2 each. The warrants, originally allotted on January 23, 2024 on a preferential basis, were converted at an issue price of Rs. 155 per share (including a premium of Rs. 153), with the company receiving Rs. 34.48 crore (being the remaining 75% of the warrant price) from 28 non-promoter allottees. Following this allotment, the company's paid-up equity capital increased from Rs. 76.96 crore (38,48,18,705 shares) to Rs. 77.56 crore (38,77,84,925 shares). About 1,85,11,580 warrants remain outstanding and can be converted within 18 months from the original allotment date by paying the remaining 75% (Rs. 116.25 per warrant).
This is a mild dilution event for existing shareholders as new shares are issued, but since the warrant holders had already paid 25% upfront in 2024, this conversion was largely expected. The freshly allotted shares will rank pari-passu with existing equity, including dividend rights, and may add modest supply pressure on the stock in the near term.