Peninsula Land Limited has informed the Exchange regarding approval of allotment of 7727000 securities on account of conversion of 77,27,000 0% Unsecured Compulsorily Convertible Debentures convertible at its Allotment Committee meeting held on 16th April 2025.
PENINLAND · price
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Peninsula Land Limited's Allotment Committee approved the issuance of 77,27,000 equity shares on 16th April 2025. These shares were allotted to holders of an equal number of 0% Unsecured Compulsorily Convertible Debentures (CCDs) that have now converted into equity. CCDs are debt instruments that automatically convert into shares, and since these carried a 0% coupon, they were essentially zero-interest convertible notes. No fresh fundraising is involved — this is purely the conversion of pre-existing debentures into equity. The 0% nature means the company paid no interest on these instruments, saving on finance costs going forward. Existing shareholders will see their proportional ownership diluted by the new share issuance.
Share count goes up by 77.27 lakh shares, which dilutes existing shareholders' holdings. On the positive side, the 0% CCDs converting to equity removes a debt obligation without any cash interest burden, potentially improving the company's debt-equity profile.