Intimation of Allotment or conversion of warrants into equity shares of the company
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Awaiting price reaction for this filing.
Rudra Ecovation's board approved the conversion of 16,90,000 warrants into equity shares at Rs. 48 per share (including a Rs. 47 premium over the Re. 1 face value). Two allottees received the shares: non-promoter Vinayak International got 11,30,000 shares and promoter Shiva Spinfab Private Limited got 5,60,000 shares. The total conversion value is Rs. 6.08 crore, with the company receiving the balance 75% amount (Rs. 36 per warrant) at conversion. As a result, the company's paid-up equity capital rose from Rs. 11.43 crore to Rs. 11.60 crore, now comprising 11,60,58,000 shares. This is part of a larger tranche of 2,07,65,000 warrants originally allotted in July 2024.
This is conversion of existing warrants rather than fresh fundraising, so no new capital inflow beyond the balance warrant price. Existing shareholders may see mild dilution, while the promoter's stake in the company increases modestly.