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 Ltd has allotted 63,55,557 equity shares of Rs. 10 each at Rs. 15 per share (Rs. 5 premium) following the conversion of an equal number of warrants held by four non-promoter allottees. The company received the balance 75% amount of Rs. 7.15 crore on these warrants, which were originally issued in February 2024 on a preferential basis. With this allotment, the company's paid-up equity capital has risen to Rs. 25.65 crore, comprising 2,56,47,500 shares. Additionally, warrants held by Mrs. Santosh Singhal were forfeited as she did not pay the balance 75% within the 18-month window, and her 25% upfront subscription money stands forfeited to the company. Post-conversion, each of the four allottees holds roughly 7.80% stake in the company.
This is a pre-committed conversion, so the Rs. 7.15 crore inflow was already expected and adds to the company's funds. Existing shareholders face marginal dilution as the share count rises by about 33%. The forfeiture of Santosh Singhal's warrants is a small positive since the company retains the upfront payment, though it signals weak promoter-group commitment.