Allotment of 4,40,00,000 Equity shares of face value Re. 1/- each fully paid up at a premium of Rs. 0.25/-, aggregating to Rs. 4,12,50,000/-, at the ratio of 1:1 - One Equity share for ....
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NHC Foods Ltd has allotted 4,40,00,000 equity shares of Re. 1 face value at an issue price of Rs. 1.25 each (including a Rs. 0.25 premium), raising Rs. 4.125 crore in total. This allotment was made upon conversion of an equal number of convertible warrants held by Satyam Shirishchandra Joshi, a non-promoter investor, who had originally been allotted 6.5 crore warrants and exercised 4.4 crore of them. The allotment was done on a preferential basis at a 1:1 conversion ratio, and the company has now received the remaining 75% of the exercise price (Rs. 0.9375 per warrant). After this conversion, the investor holds no further warrants pending conversion.
Existing shareholders will see dilution as 4.4 crore new shares are added to the share base, though the company has received Rs. 4.125 crore in fresh cash. The small size of the issue and the low premium suggest a modest equity infusion rather than a major capital event.