The Board of Directors Meeting held today, i.e., on September 5, 2025, inter alia considered and approved the allotment of 6,50,00,000 (Six Crore Fifty Lakhs) Fully Convertible Warrants ....
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NHC Foods' board approved allotment of 6,50,00,000 fully convertible warrants at Rs. 1.25 each (including Rs. 0.25 premium), on a preferential basis, aggregating to about Rs. 8.13 crore. The warrants were allotted to a single non-promoter public investor, Satyam Shirishchandra Joshi, who has paid 25% upfront (around Rs. 2.03 crore), with the remaining 75% due on conversion. Shareholders had earlier approved the issue at an EGM held on July 18, 2025. Each warrant is convertible into one equity share within 18 months from the date of allotment.
Existing shareholders face significant potential dilution as the 6.5 crore warrants, if fully converted, would substantially expand the share count, though the company receives fresh capital of up to Rs. 8.13 crore. Concentration in a single allottee adds promoter-style risk as this individual would emerge as a large shareholder upon conversion.