Allotment of 24,50,000 Equity shares of INR 10/- each at a price of INR 16/- per share comprising of premium of INR 6/- each per share, upon exercise of option for conversion of equity ....
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Orient Tradelink Ltd has allotted 24,50,000 equity shares after non-promoter warrant holders converted their warrants into shares. The shares have a face value of INR 10 each but were issued at INR 16 per share, including a premium of INR 6. Six non-promoter allottees received the shares, with the largest allottee (Anees Alnasir Gilani) receiving 8,00,000 shares. As a result, the company's paid-up equity capital increased from INR 13.16 crore to INR 15.61 crore. The warrant holders paid the balance 75% of the issue price (INR 12 per warrant) to complete the conversion.
This is a dilution event for existing shareholders as 24.5 lakh new shares are added, though promoter and public shareholding percentages only shift marginally (public went from 99.32% to 99.43%). The capital infusion strengthens the company's equity base and reflects completion of a previously announced preferential warrant issuance.