Mufin Green Finance Limited has informed the Exchange regarding allotment of 4640000 securities pursuant to Preferential Issue at its meeting held on Jun 26, 2025
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Mufin Green Finance has converted 46,40,000 convertible warrants into an equal number of equity shares of face value Re. 1 each at Rs. 55 per share, upon receiving Rs. 19.14 crore from allottees (Rs. 41.25 per warrant, being the balance 75% of issue price). This is part of the original 2.55 crore warrants issued on December 27, 2023; so far 2.11 crore warrants have been converted across tranches, while 43.20 lakh warrants lapsed, resulting in forfeiture of the 25% upfront amount paid on those. Promoters Shelly Garg and Pooja Garg each converted 11 lakh warrants, and Bima Pay Technology converted 5.5 lakh warrants, while the rest came from 13 non-promoter allottees including individuals, HUF and private companies. Following this allotment, the company's paid-up equity capital has risen to Rs. 17.29 crore, comprising 17,29,55,172 equity shares.
Existing shareholders face marginal equity dilution as share count increases, though the company strengthens its equity base by converting warrants into shares without taking on new debt. The lapse of 43.20 lakh warrants with forfeited upfront money signals partial demand weakness among certain allottees, though the remaining conversions still inject capital. Short-term stock price may react to the dilution and the fact that the warrant exercise window has now closed.