Intimation of allotment of equity shares upon conversion of warrants
Price
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Awaiting price reaction for this filing.
Raminfo Limited has allotted 6,47,449 equity shares to 4 investors upon conversion of warrants on a preferential basis at ₹140.50 per share (face value ₹10 + premium ₹130.50). The total amount received from this conversion is approximately ₹6.82 crore, representing the 75% balance subscription on the exercised warrants. Out of the original 34.29 lakh outstanding warrants, the balance unexercised warrants have lapsed, and the 25% upfront subscription paid on those lapsed warrants stands forfeited to the company. Two of the allottees belong to the Promoter/Promoter Group (Aruna Rani Elimineti and Lingamdinne Ramasubbamma), while two are non-promoter investors (Mallepally Durga Reddy and Motati Madhusudhana Reddy). As a result, the company's paid-up capital increased from ₹7.54 crore to ₹8.19 crore, and promoter group shareholding rose from 33.98% to 36.18%.
This results in dilution for existing public shareholders as the share base expands, but the increase in promoter holding signals promoter confidence in the business. The forfeiture of the 25% upfront amount on lapsed warrants provides a small additional inflow to the company.