Conversion of warrants into equity shares.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Odyssey Corporation's board has approved the conversion of 78.5 lakh convertible warrants into 78.5 lakh equity shares of face value ₹5 each. The conversion price is ₹14 per share (₹5 face value + ₹9 premium), totaling approximately ₹8.24 crore. The shares have been allotted to three promoters: Pooja Equiresearch Private Limited, Hemanshu Ramniklal Mehta, and Beena Hemanshu Mehta. Some warrants remain pending conversion for the individual promoters (10.25 lakh each). This preferential allotment increases the company's equity base and reflects promoter holding expansion.
This conversion dilutes existing shareholder equity as the promoter group increases its stake through warrant exercise. The influx of ₹8.24 crore strengthens the company's equity base and cash position, though it creates dilution for current shareholders who did not participate in the original warrant issuance.