Allotment Of 78,10,000 Equity Shares Of Face Value Of INR 10/- Each Pursuant To Conversion Of 78,10,000 Fully Convertible Equity Warrants ("Warrants'''')
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Mardia Samyoung Capillary Tubes Company Ltd announced that its Board, at a meeting held on February 09, 2026, approved the allotment of 78,10,000 equity shares (face value INR 10 each) following the conversion of an equal number of fully convertible equity warrants. These warrants had been issued on a preferential basis on February 04, 2026 at INR 13.50 per warrant to two non-promoter allottees — Mr. Mistry Deep Dhirenbhai (39,00,000 shares) and Mr. Sindhi Mohammad Mahin Salim (39,10,000 shares). As a result, the company's paid-up equity share capital has more than doubled from INR 6.94 crore (69,48,073 shares) to INR 14.76 crore (1,47,58,073 shares). The conversion price of INR 13.50 represents a 35% premium over the face value of INR 10.
Existing shareholders will see meaningful dilution as the share count has more than doubled, though capital infusion strengthens the company's equity base. The allotment to non-promoters at a premium signals fresh capital coming in from outside the promoter group, but the small float and low pricing may pressure the stock in the short term.