Allotment of Equity Shares and Share Warrants under Preferential Allotment
Price
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Relic Technologies has allotted 15,50,000 equity shares to non-promoter public category investors at Rs. 85 per share (face value Rs. 10 plus Rs. 75 premium), raising its paid-up capital to Rs. 5.15 crore spread across 51.5 lakh shares. Additionally, 4,41,164 fully convertible warrants were allotted to the promoter group and non-promoters at Rs. 85 per warrant, with 25% (around Rs. 93.75 lakh) paid upfront and the balance due within 18 months on conversion. The allottees include individuals like Viraj Gandhi (6 lakh shares), Dalal & Broacha Stock Broking (3 lakh shares), and several small investors. Shareholder approval was obtained at the March 18, 2025 EGM and BSE in-principle approval came on April 3, 2025.
Existing shareholders face dilution from the new shares, and further dilution is possible if the warrants are converted within 18 months. The issue price reflects a hefty premium over face value, but the stock may see some short-term pressure from the expanded equity base.