Allotment of 44,715 equity shares upon conversion of warrants into equity shares
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Prime Fresh Limited has allotted 44,715 equity shares to Mr. Hiren Chandrakant Ghelani, a promoter, upon conversion of 44,715 convertible warrants. The shares were allotted at Rs. 164 per share (face value Rs. 10 + share premium of Rs. 154), aggregating to Rs. 54,99,945 for the balance 75% tranche (Rs. 18,33,315 was already paid as 25% at the time of warrant allotment). This is a preferential allotment. Post-allotment, the total equity share count stands at approximately 1,41,58,384 shares. The warrant conversion was completed within the maximum 18-month tenure permitted.
This is a promoter-led warrant conversion, signalling promoter commitment and capital infusion into the company. It slightly dilutes existing shareholders but strengthens the promoter's stake. The stock price impact is likely neutral as it was a pre-committed conversion.