Outcome of the meeting of the Allotment Committee of the Board of Directors of the Company held on Tuesday, July 29, 2025
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Oriental Rail Infrastructure's Allotment Committee met on July 29, 2025 and approved the conversion of 10,00,000 (Ten Lakhs) convertible warrants into equity shares held by Mrs. Wazeera S. Mithiborwala, a member of the Promoter Group. The warrants were originally allotted as part of a preferential issue approved via EGM on January 19, 2024. The new equity 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). After this conversion, the Promoter Group member's total holding stands at 79,47,000 equity shares, and there are no outstanding convertible warrants remaining from her original 75,00,000 warrants (65,00,000 had already been converted earlier).
This is a routine warrant-to-equity conversion by a Promoter Group holder, resulting in a small dilution (~10 lakh shares) and converting pending warrants into actual equity. The promoter group's stake has now increased, signaling their continued commitment, but with lock-in applicable as per SEBI rules, near-term selling pressure is limited. Minor dilution for existing shareholders.