Mangalam Worldwide Limited has informed the Exchange about Intimation of Trading Approval of 1500000 Equity Shares issued pursuant to conversion of convertible warrants
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Awaiting price reaction for this filing.
Mangalam Worldwide Limited has received trading approval from the Exchange for 15,00,000 equity shares. These shares were issued pursuant to the conversion of previously allotted convertible warrants. This means warrant holders have exercised their option to convert warrants into equity shares, and the resulting shares are now eligible to trade on the exchange. The company's paid-up equity share capital will increase by 15 lakh shares as a result of this conversion.
This is a routine post-conversion formality. Existing shareholders may face mild dilution depending on the size of conversion relative to existing capital. The share price could see some pressure if the converted shares are sold in the market by warrant holders.