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 allotment of 27,778 fully paid-up equity shares of Rs. 10 face value each upon conversion of warrants. The conversion was carried out by one non-promoter allottee, Vikas Pandurang Kolarkar, at a price of Rs. 90 per share (including Rs. 80 premium). Following this allotment, the company's post-allotment paid-up capital stands at Rs. 6,24,41,850 comprising 62,44,185 equity shares. This represents a 0.45% increase in share capital from the previous 62,16,407 shares.
The warrant conversion increases the equity base marginally by 27,778 shares, diluting existing shareholders slightly. The conversion at Rs. 90 (9x face value) suggests the warrants were issued at a premium, which is positive for understanding the company's valuation at time of warrant issuance.