Allotment Of 1,17,00,000 Equity Shares Of Face Value Of INR 10/- Each Pursuant To Conversion Of 7,25,00,000 Fully Convertible Equity Warrants (Warrants'''')
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Mardia Samyoung Capillary Tubes Company has allotted 1,17,00,000 Fully Convertible Equity Warrants to 3 non-promoter allottees on a preferential basis at an issue price of Rs. 13.50 per warrant (Rs. 10 face value plus Rs. 3.50 premium). The allottees are Mistry Deep Dhirenbhai (39 lakh warrants), Thakor Lorence Nileshbhai (38.9 lakh warrants), and Sindhi Mohammad Mahin Salim (39.1 lakh warrants). This is described as the first tranche of a preferential issue approved by shareholders in October 2025 and cleared by BSE in January 2026. The company has received 25% of the consideration upfront, but there is no immediate change in paid-up share capital because these are warrants, not shares. Each warrant is convertible into one equity share within 18 months, with the balance 75% payable at the time of conversion. If all warrants are fully converted, the 3 allottees would each hold roughly 20.85%–20.95% of the expanded share capital.
No immediate dilution since paid-up capital is unchanged, but significant future dilution risk: full conversion would create 1.17 crore new shares and hand roughly 63% of the expanded equity to 3 new non-promoter individuals. Shareholders should watch whether the company discloses the intended use of the funds being raised and whether the warrants are ultimately converted within 18 months.