The allotment committee has considered and approved allotment of 85,00,000 (Eighty Five Lakhs) equity shares in pursuance to conversion of 85,00,000 (Eighty five lakhs) convertible warrants ....
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The Allotment Committee of Royal India Corporation Ltd, at its meeting on September 26, 2025, approved the conversion of 85,00,000 (85 lakh) convertible warrants into equity shares at Rs. 10 per share (face value Rs. 10). These warrants had been originally allotted on May 10, 2024. The allottees are India Corporation Limited, which belongs to the Promoter/Promoter Group category and held zero shares before this allotment. Post-allotment, the promoter group entity now holds 85,00,000 shares, representing 7.21% of the company's share capital. This is a preferential issue carried out under SEBI (ICDR) Regulations, 2018.
This conversion increases the promoter group's stake in the company, which can be seen as a signal of promoter confidence and commitment. However, it also results in equity dilution for existing public shareholders. The issue price is at face value (Rs. 10), which is the minimum permitted price under SEBI norms.