Outcome of Board Meeting held on 27th November, 2025
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The Board of Directors of New Markets Avenue Ltd, at its meeting on 27th November 2025, approved the conversion of 37,00,000 warrants into 37,00,000 equity shares of face value Rs. 10 each, allotted at par on a fully paid-up basis. The shares were issued on a preferential allotment basis to 17 non-promoter public allottees, including individuals and one HUF. All allottees exercised their full entitlement, with allotments ranging from 1,00,000 to 4,00,000 shares each. The company had already received in-principle approval from BSE for this preferential issue on 20th October 2025.
This is a routine warrant-to-equity conversion, which will increase the company's share count and lead to some dilution for existing shareholders. Since the shares are allotted at par (no premium), there is no fresh capital infusion benefit beyond the original warrant issuance. The dilution impact depends on the company's pre-existing share base.