preferntial allotment of shares pursuant to conversion of 7,00,000 equity convertiable warrant of face value 10/- each. into 35,00,000 equity shares of face value Rs. 2/-
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Panorama Studios International has allotted 35,00,000 equity shares of face value Rs. 2 each to warrant holders. These shares were issued upon conversion of 7,00,000 convertible warrants of Rs. 10 face value, which were originally issued on a preferential basis. The total face value remains consistent at Rs. 70 lakhs, with each warrant converting into 5 equity shares based on the face value ratio. This is a pre-scheduled conversion of instruments that were issued earlier, not a fresh fundraising round.
Shareholders should note a dilution of about 35 lakh new equity shares entering the market, which could exert mild downward pressure on the stock in the short term. Existing shareholders' percentage holding will reduce marginally unless they participate proportionally.