Intimation of Allotment/ Conversion of Warrants into Equity Shares
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Rudra Ecovation Ltd (formerly Himachal Fibres Limited) has allotted 10,50,000 equity shares of Re. 1 face value at an issue price of Rs. 48 per share (including Rs. 47 premium) upon conversion of equal number of convertible warrants. The shares were allotted to Dinesh Pareekh, a non-promoter allotee, against receipt of the balance 75% amount (Rs. 36 per warrant), aggregating Rs. 3.78 crore. This is part of the original allotment of 2,07,65,000 convertible warrants made on July 11, 2024. Following this conversion, the company's paid-up equity capital has increased from Rs. 11.82 crore to Rs. 11.93 crore (total 11,93,28,000 shares), and Dinesh Pareekh's shareholding has risen from 1.76% to 2.63%.
Minor equity dilution for existing shareholders with a small uptick in non-promoter stake; incremental capital inflow of Rs. 3.78 crore, though the overall scale remains limited relative to the total share base.