Allotment
Price
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Awaiting price reaction for this filing.
Oriental Rail Infrastructure Ltd has allotted 10,00,000 equity shares to Mrs. Wazeera S. Mithiborwala, a member of the Promoter Group, upon conversion of an equal number of convertible warrants. The shares have a face value of Re. 1/- each and were issued at a price of Rs. 169/- per share (including a premium of Rs. 168/-). This is the final tranche of a preferential issue originally comprising 75,00,000 warrants; with this conversion, all warrants have been fully converted and there are no outstanding convertible warrants left. Post-allotment, the allottee's holding stands at 79,47,000 equity shares. The new equity shares are subject to lock-in as per SEBI ICDR Regulations.
This is a completion of a previously announced preferential warrant conversion by a promoter group member, so there is no fresh fundraising or dilution surprise for existing shareholders. With no warrants left pending, the overhang from this preferential issue is now cleared, which is mildly positive for share price stability.