Outcome of the board meeting approving conversion of Convertible Warrant into equity shares of the Company.
MARKOLINES · price
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The Board of Directors of Markolines Pavement Technologies approved the conversion of 36,400 convertible warrants into equity shares at Rs. 165 per share (face value Rs. 10 each). The warrants, originally issued under SEBI ICDR Regulations, are being converted upon receipt of the full subscription amount. The shares are being allotted to six allottees, including individuals and SVAR Family Trust, with allotments ranging from 5,600 to 7,600 shares each. The total transaction value works out to approximately Rs. 60.06 lakhs. The conversion ratio is one equity share for one warrant held.
This is a small, pre-committed equity issuance that brings in roughly Rs. 60 lakhs to the company and results in minor dilution of around 36,400 shares for existing shareholders. The impact on share price is likely to be negligible given the small size relative to typical trading volumes.