This is to inform that the Board of Directors has approved the allotment of 56,25,000 equity shares allotted pursuant to conversion of share warrants issued on preferential basis.
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RDB Infrastructure And Power Ltd has allotted 56,25,000 equity shares (face value Re. 1 each) to non-promoter entity M/s Sarwamangala Capital upon conversion of equal number of warrants. The warrants were originally issued on 27th November 2024 on a preferential basis at Rs. 40.5 per share. The allottee paid the balance 75% amount of Rs. 17.09 crore (Rs. 30.375 per warrant) to exercise the conversion. As a result, the company's paid-up equity capital has increased to Rs. 21.01 crore, comprising 21,00,09,000 equity shares. The new shares will rank pari passu with existing equity shares. No warrants from this tranche remain pending for conversion.
Dilution for existing shareholders as share count rises, but the company has received Rs. 17.09 crore in fresh capital at a significant premium over face value. The completion of warrant conversion removes uncertainty around pending conversions and strengthens the equity base, though it slightly increases the equity supply in the market.