Outcome of Meeting of Allotment Committee constituted by the Board of Directors of the Company.
Price
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Rose Merc Limited's Allotment Committee approved the conversion of 22,222 equity warrants into fully paid-up equity shares. The conversion price was Rs. 90 per share (including Rs. 80 premium over Rs. 10 face value), totaling Rs. 2,22,220. The shares were allotted to a single non-promoter allottee, Vikas Pandurang Kolarkar. Following this conversion, the company's paid-up capital increased to Rs. 6,21,64,070 comprising 62,16,407 equity shares. The meeting lasted 30 minutes.
Minor positive dilution for existing shareholders as 22,222 new shares (0.36% of post-allotment capital) were issued to a non-promoter investor at a premium. The warrant conversion brings fresh capital into the company without debt.