Outcome of Finance committee meeting relating to conversion of 57,725 warrants into equal no. of Equity shares
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Prime Fresh Limited has allotted 57,725 equity shares to promoter Mr. Hiren Chandrakant Ghelani upon conversion of an equal number of convertible warrants. The shares were issued at Rs. 164 each (face value Rs. 10 plus Rs. 154 premium), aggregating to about Rs. 94.67 lakh. The promoter had earlier paid 25% (Rs. 23.67 lakh) at the time of warrant allotment and has now remitted the remaining 75% (Rs. 71.00 lakh). This is a preferential allotment, with in-principle approval from BSE dated May 27, 2025. Post-allotment, the company's paid-up share capital rises, marginally diluting existing shareholders, but since the allottee is a promoter, it signals insider confidence in the business.
Minor dilution for existing retail shareholders, but the conversion by a promoter at Rs. 164 per share reflects promoter commitment and willingness to put in fresh capital. No negative impact on stock price is expected as this is a pre-committed conversion.