Board approves preferential allotment including promoter loan-to-equity conversion
PRITIKA · price
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Board approved preferential allotment of 62 lakh equity shares plus 4 lakh convertible warrants at Rs 64 each. This includes 50 lakh shares to promoter Pritika Auto Industries against conversion of Rs 32 crore unsecured loan, 12 lakh shares to non-promoters worth Rs 7.68 crore, and 4 lakh warrants to Healthy Biosciences worth Rs 2.56 crore (25 percent upfront). Issue price is Rs 64 against face value of Rs 5, with premium of Rs 59 per share.
Equity dilution from new allotments. Promoter loan converted to equity may strengthen balance sheet but increases share count by about 12 percent.