as per the pdf attached
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mega Nirman and Industries has allotted 63,55,557 equity shares of Rs. 10 each at Rs. 15 per share (including Rs. 5 premium) on a preferential basis to four non-promoter allottees, following the conversion of an equal number of warrants originally issued on February 7, 2024. The company received Rs. 7.15 crore as the balance 75% payment towards warrant conversion. The allottees are M.D.S. Infrastructure, One Tree Hill Properties, Orchard Road Properties, and individual investor Vasu Mohlay, each now holding 7.80% of the company post-allotment. Consequently, the paid-up equity capital has risen to Rs. 25.65 crore, comprising 2,56,47,500 shares. Separately, allottee Mrs. Santosh Singhal failed to pay the balance 75% within the 18-month window, leading to forfeiture of her 25% subscription money.
Share count has increased significantly, which dilutes existing shareholders proportionally, though Rs. 7.15 crore of fresh capital has been added to the company. With no promoter warrants in this tranche and all conversion activity now complete, near-term overhang from these warrants is removed.