Outcome of Meeting of Allotment Committee constituted by the Board of Directors of the Company.
Price
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Rose Merc Ltd's Allotment Committee approved the conversion of 50,750 equity warrants into fully paid-up equity shares of Rs. 10 face value each. The conversion price was Rs. 90 per share (including a premium of Rs. 80), representing a 9x premium over face value. The three allottees—Bharat Ramdas Karnik (500 shares), Rajesh Dilip More (250 shares), and Salil Divakar Deshpande (50,000 shares)—are all non-promoters. Salil Divakar Deshpande accounts for nearly 99% of the total allotment with 50,000 shares. Post-allotment, the company's paid-up capital stands at Rs. 6,19,44,350 across 61,94,435 equity shares. The meeting lasted 15 minutes.
The warrant conversion increases the company's equity base by 0.83% and brings in Rs. 45,67,500 at the conversion price. The significant premium pricing (9x face value) indicates strong institutional interest from non-promoter investors, which is generally positive for existing shareholders.