Submission of intimation of allotment of equity shares upon conversion of warrants into equity.
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Novelix Pharmaceuticals has allotted 29,85,000 equity shares at Rs. 20 each (face value Rs. 10 + premium Rs. 10) upon conversion of an equal number of warrants. The company received approximately Rs. 4.48 crore (Rs. 44,775,000) from this conversion. Shares were allotted to 19 allottees, including 1 from the promoter group (Narahari Belide – 2 lakh shares) and 18 non-promoter allottees, with the largest being Mallela Venkataramana Reddy (15 lakh shares). These warrants were originally issued on a preferential basis on 10th January 2025 (out of 1.5 crore warrants approved earlier). As a result, the company's paid-up equity capital has increased from Rs. 9.95 crore (99.5 lakh shares) to Rs. 12.94 crore (1.29 crore shares).
Shareholders should note an equity dilution of about 30% as the share count rose from 99.5 lakh to 1.29 crore shares. While the company has raised Rs. 4.48 crore in fresh capital, a large number of warrants (around 1.2 crore out of 1.5 crore originally issued) remain unconverted, which could lead to further dilution in the future if those warrant holders choose to convert.