Please find the attached outcome of Board Meeting for allotment of Convertible Warrants
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Retaggio Industries Limited has allotted 15,07,692 convertible equity warrants at Rs. 26 per warrant on a preferential basis, raising a total of about Rs. 3.92 crore. The company has already collected 25% (Rs. 97.99 lakhs) as upfront application money at Rs. 6.50 per warrant. The sole allottee is M/s Retaggio Trading Services LLP, a promoter group entity. Each warrant can be converted into one equity share of Rs. 10 face value (at Rs. 16 premium) within 18 months by paying the remaining Rs. 19.50 per share. Post full conversion, the promoter's fully diluted shareholding is shown reducing from 33.73% to 31.70% as total share count expands.
This is a promoter-backed capital infusion that strengthens the company's equity base, but existing public shareholders will face dilution if all warrants are converted within 18 months. The warrants could also lapse, limiting the actual dilution and raising only partial funds in hand.