Allotment of 10,00,000 Equity Shares pursuant to exercise of warrants allotted on preferential basis
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Organic Recycling Systems Ltd has allotted 10 lakh equity shares of Rs.10 face value each to one warrant holder, Bhavi Shah, upon exercise of an equal number of warrants. The warrants were originally allotted on December 26, 2024, on a preferential basis to 24 allottees, with each warrant convertible into one equity share at Rs.273. The exercise price of Rs.204.75 per warrant (75% of issue price) was received, aggregating Rs.20.47 crore. Post-allotment, the company's paid-up equity capital stands at Rs.9.65 crore across 96.59 lakh shares. The new shares rank pari-passu with existing shares.
The conversion of 10 lakh warrants into equity shares increases the company's share capital by about 10.35%, causing dilution for existing shareholders. The Rs.20.47 crore inflow from this single investor provides fresh capital to the company.