Outcome of circular resolution passed by Board of Directors of the Company by circulation on Monday, 02.06.2025
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Mudunuru Limited's Board, via a circular resolution dated June 2, 2025, approved the allotment of 4,00,000 equity shares upon conversion of an equal number of warrants held by a single non-promoter allottee, Mr. Hemambara Rao Boddeti. The shares were issued at Rs. 12 each (including a Rs. 10 premium) on a preferential basis, with the company receiving Rs. 36 lakh as the balance 75% payment due on conversion. As a result, the company's paid-up equity capital rose from Rs. 6.24 crore (3.12 crore shares) to Rs. 6.32 crore (3.16 crore shares of Rs. 2 face value). A further 92 lakh warrants remain outstanding and can still be converted into equity shares within the original 18-month window.
This is a small dilution event (about 1.3% increase in share count) and brings in Rs. 36 lakh to the company, marginally strengthening its equity base. With 92 lakh more warrants still pending conversion, further dilution is likely, which existing shareholders should keep in mind.