Allotment of 27,75,000 Equity shares to Non Promoter Group of the Company upon Conversion of Share Warrants.
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RDB Real Estate Constructions has allotted 27,75,000 equity shares to 9 non-promoter allottees after they converted their warrants into shares. The conversion happened at Rs. 87.15 per share (face value Rs. 10, premium of Rs. 77.15), bringing in Rs. 18.14 crore as the balance 75% payment. With this, the company's paid-up capital has risen to Rs. 20.06 crore, comprising 2,00,58,400 equity shares. This is part of a larger preferential issue of 1,78,30,000 warrants done in August 2025, out of which 1,50,55,000 warrants are still pending conversion and must be exercised within 18 months. The allottees include members of the Surana and Pagariya families, with no institutional or marquee investors involved.
The conversion is dilutive for existing shareholders as the share count increases by about 16%, though the company receives fresh capital. Since this is the second tranche of warrant conversion and another 1.5 crore warrants are still pending, further dilution is likely in the coming months, which shareholders should factor in.