Outcome of Board Meeting dated 19.05.2025
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Marble City India Ltd's board, at its meeting on May 19, 2025, approved the conversion of 250,000 warrants into 250,000 equity shares at an issue price of Rs. 100.50 each (including a premium of Rs. 95.50). The warrants were originally allotted on January 24, 2025, and the company has now received the balance 75% amount of Rs. 75.375 per warrant, aggregating to roughly Rs. 1.88 crore. The allottees are two non-promoter entities — All Rounder Marketing Private Limited (1,50,000 shares) and Noida Holdings Private Limited (1,00,000 shares). Post-allotment, the company's paid-up equity capital stands increased to about Rs. 11.79 crore, comprising 2,35,85,108 equity shares of Rs. 5 each. The newly issued shares will rank pari-passu with existing equity shares.
This is a routine warrant-to-equity conversion that increases the share count (dilution) but also brings in fresh capital (~Rs. 1.88 crore). Since the warrants were allotted to non-promoter public category allottees earlier, this completion brings closure to that preferential issue. Minor dilution impact on existing shareholders given the small size relative to total shares.