Please find enclosed out come of board meeting held on today
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Awaiting price reaction for this filing.
The board approved the conversion of 68,000 equity warrants into equivalent equity shares at Rs. 151 per share (face value Rs. 10, premium Rs. 141), allotted to four non-promoter allottees on a preferential basis. The company received the remaining 75% amount of Rs. 51.34 lakhs from these warrant holders exercising their conversion right. Post this allotment, the company's paid-up equity capital has increased to Rs. 5.03 crores, comprising 50,36,146 equity shares of Rs. 10 each. Of the original 3,82,000 warrants, 3,14,000 warrants remain pending conversion and must be exercised within 18 months from the original allotment date.
This is a small dilution event for existing shareholders, with the issued share count rising from 49,68,146 to 50,36,146 (about 1.4% increase). The conversion brings additional capital into the company and signals that the original warrant holders see value at Rs. 151 per share, though overall dilution risk remains since 3,14,000 more warrants are still outstanding.