Pursuant to Regulation 30 of SEBI LODR we wish to inform you that the Board of Directors of the COmpany in their meeting held today considered and approved the allotment of 50048 Equity ....
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The Board of Directors approved the conversion of 50,048 warrants into an equal number of equity shares at Rs. 210 per share (including Rs. 200 premium). The allottee, Nirbhay Fancy Vassa (Non-Promoter), paid the balance 75% of the issue price (Rs. 157.50 per warrant), aggregating Rs. 78,82,560. As a result, the company's paid-up equity capital increased from Rs. 2,53,49,520 (25,34,952 shares) to Rs. 2,58,50,000 (25,85,000 shares of Rs. 10 face value each). All 3,65,000 warrants originally issued have now been fully converted to equity shares, with none outstanding. The new shares rank pari-passu with existing equity shares and have BSE in-principle approval for listing.
Dilution of approximately 2% for existing shareholders. The complete conversion of all warrants reduces potential future dilution overhang, which is a modest positive. The single non-promoter allottee now holds a meaningful stake.