Allotment Of Fully Convertible Equity Warrants On A Preferential Basis.
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Mardia Samyoung Capillary Tubes Company has allotted 2,34,80,000 (about 2.35 crore) fully convertible equity warrants to 6 non-promoter individuals on a preferential basis. The warrants carry an issue price of Rs. 13.50 each, including a Rs. 3.50 premium over the Rs. 10 face value. This is the fourth tranche of the preferential issue, following shareholder approval in October 2025 and BSE in-principle approval in January 2026. Each allottee will hold roughly 4.86% to 4.97% of the company's post-issue share capital upon full conversion. Allottees have paid 25% upfront, with the remaining 75% due within 18 months when they choose to convert the warrants into equity shares. Since these are warrants and not shares, there is no immediate change in paid-up share capital.
This is a dilutive event for existing shareholders — if all warrants are converted, the company's equity base will expand significantly. However, no equity dilution happens right now, and the 25% upfront payment brings some cash into the company. Shareholders should watch whether the allottees eventually convert within 18 months, which would increase the share count and dilute their stake.