Ritco Logistics Limited has informed regarding Disclosure of material issue in relation with Conversion of Warrants into Equity Shares
RITCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ritco Logistics has converted 3 lakh convertible warrants into equity shares at an issue price of Rs. 247.10 per share (including a premium of Rs. 237.10). The allotment went entirely to two promoter-group members — Shyam Sundar Elwadhi and Tanya — who each received 1.5 lakh shares upon paying the balance 75% of the issue price, amounting to about Rs. 2.78 crore each (Rs. 5.56 crore total). These warrants were originally allotted on a preferential basis on November 24, 2023. After this conversion, the company's paid-up equity capital stands increased to Rs. 28.62 crore, comprising 2.86 crore equity shares of Rs. 10 each. The new shares will rank equally with existing shares.
This is a promoter-group equity infusion of around Rs. 5.56 crore with no fresh dilution beyond what was already factored in at the time of warrant issuance, so the impact on existing shareholders is largely neutral. It does signal continued promoter confidence and commitment to the company.