Outcome of Meeting of Allotment Committee constituted by Board of Directors
Price
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Rose Merc Limited's Allotment Committee approved the conversion of 1,74,445 warrants into fully paid-up equity shares of face value Rs. 10 each at an issue price of Rs. 90 per share (including a premium of Rs. 80). The shares were allotted to four non-promoter allottees — Amitkumar Yogendra Singh (55,556), Niti Trivedi (55,556), Vikas Kamlakar Phadnis (50,000), and Vijay Acharya (13,333). As a result, the company's paid-up equity capital rises from Rs. 6,24,41,850 (62,44,185 shares) to Rs. 6,41,86,300 (64,18,630 shares). The shares were issued on a preferential basis upon warrant conversion.
This is a modest equity dilution of roughly 2.8% from warrant conversion already promised earlier. Since all allottees are non-promoters, there's no change in promoter holding. The Rs. 80 premium per share adds to reserves, mildly positive for the company but not a major event for shareholders.