The allotment of 16,90,000 (Sixteen Lakh Ninety Thousand Only) Equity Shares of face value of Re. 1/- (Rupee One only) each upon conversion of the warrants at an issue price of Rs. 48/- ....
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Rudra Ecovation's board has approved the allotment of 16,90,000 equity shares (face value Re. 1) at Rs. 48 each, converting an equal number of warrants into full shares. The total issue size is approximately Rs. 6.08 crore. Shares were allotted to two investors: Vinayak International (non-promoter, 11,30,000 shares) and Shiva Spinfab Private Limited (promoter, 5,60,000 shares). After the conversion, the company's paid-up share capital rises from Rs. 11.44 crore to Rs. 11.61 crore, consisting of 11,60,58,000 equity shares. The warrant holders paid the remaining 75% balance (Rs. 36 per warrant) to complete the conversion.
This is a routine warrant-to-equity conversion with no new equity dilution beyond what was already priced into the warrants. Shareholding of both allottees increases marginally, with Vinayak International rising from 1.55% to 2.50% and Shiva Spinfab from 1.09% to 1.56% — minor changes with limited impact on stock price.