This in furtherance to our letter dated 27th November, 2024 and Regulation 30 of the SEBI (LODR) Regulation, 2015, we are enclosing herewith the outcome of Board Meeting held today i.e. ....
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The Board of RDB Infrastructure And Power Ltd has approved the conversion of 2,48,00,000 warrants into equity shares of Re. 1 face value each, allotted on a preferential basis to 16 allottees from the promoter and non-promoter categories. These warrants were originally issued on 27 November 2024 as part of a larger 6,86,25,000-warrant preferential issue, and the allottees have now paid the balance 75% amount of Rs. 30.375 per warrant at an issue price of Rs. 40.5 per share (including Rs. 39.5 premium). The company received Rs. 75.33 crore in this tranche, taking the total paid-up equity capital to Rs. 19.76 crore divided into 19,76,34,000 shares. All 2.48 crore warrants in this batch have been fully converted, with no warrants pending from these 16 allottees.
The conversion brings in approximately Rs. 75.33 crore of fresh equity capital, which strengthens the company's balance sheet but also dilutes existing shareholders by about 12.5% (2.48 crore new shares on a base of ~17.28 crore shares). Strong promoter-group participation signals insider confidence in the business.