Allotment of 62,50,000 Equity share to Promoter Group of the Company upon conversion of share warrants.
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The Board of RDB Real Estate Constructions has allotted 62,50,000 equity shares to four Promoter Group entities upon conversion of warrants at Rs. 87.15 per share, with the company receiving the balance 75% consideration of Rs. 40.85 crore. Promoter Vinod Dugar's stake rises from about 12% to 13.19%, while Ankur Constructions (6.55%), Somani Estate (6.65%), and Veekay Apartment (6.65%) have also picked up significant holdings. With this conversion, total warrants converted stand at 90,25,000 out of 1,78,30,000, with 88,05,000 warrants still pending. Paid-up equity capital has risen to Rs. 26.31 crore (2.63 crore shares of Rs. 10 each). On the results front, standalone Q3 net profit grew to Rs. 158.16 lakhs (vs Rs. 92.75 lakhs a year ago) on revenue of Rs. 222.27 lakhs, but consolidated Q3 slipped into a net loss of Rs. 359.19 lakhs due to higher finance and other expenses.
This is a promoter confidence signal as insiders are pumping in roughly Rs. 40.85 crore of fresh capital into the company, strengthening the equity base. Shareholders should note the dilution from the warrant conversion, but the increase in promoter holding is generally viewed positively by the market.