Allotment of 1000000 equity shares pursuant to conversion of Warrants.
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Manoj Ceramic Ltd has allotted 10 lakh equity shares of face value ₹10 each at an issue price of ₹161 (including a premium of ₹151) following the conversion of warrants by three non-promoter allottees. The allottees are Mansukh Dudabhai Satra (HUF) for 2.5 lakh shares, Janil Mansukh Satra for 2.5 lakh shares, and Mansukh Duda Satra for 5 lakh shares — all from the Satra family. The company received the balance 75% subscription amount of about ₹12.08 crore, and with this conversion all warrants issued earlier stand fully converted. Post-allotment, the company's paid-up equity capital has risen to ₹14.91 crore divided into 1.49 crore shares, with the new shares ranking equally with existing ones. The original warrants were issued on a preferential basis with shareholder approval dated 14 November 2024.
This is a dilutive event as the share count increases by 10 lakh shares (roughly 7.2% expansion over the 1.39 crore shares prior). However, since the warrants were already in place and approved earlier, the market had anticipated this conversion. The ₹12 crore inflow strengthens the company's cash position. Existing shareholders should monitor whether this is the last of the preferential dilution or more such tranches are expected.