We hereby submitting herewith outcome of board meeting relating to 1 Approved issue of up to 55000000 (Five Crore Fifty Lakh) Fully Convertible Equity Warrants; 2 approved the regularization ....
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Panth Infinity Limited's board approved the issue of up to 55 million Fully Convertible Equity Warrants on a preferential basis to 11 public investors (10 individuals and 1 body corporate). Each warrant is convertible into 1 equity share of Rs. 10 face value within 18 months from allotment. The issue price will be determined as per SEBI ICDR Regulations. The board also approved regularization of 5 director appointments including Mr. Rahilahmed Jafarbhai Shaikh as Managing Director, Mr. Tushar Rameshbhai Bhatt and Ms. Asha Pravin Ughade as Independent Directors, and Mr. Akash Prakash Patil and Mr. Debu Sardar as Executive Directors. All appointments are subject to shareholder approval via postal ballot. The warrant issue will potentially double the company's share count from 55.16 million to 110.16 million shares.
Existing shareholders face significant dilution risk as the equity base could double if all warrants are converted. The warrants are being issued to public investors with no promoter participation, meaning control may dilute further. Director regularizations strengthen the board but do not indicate immediate growth catalysts.