RUSHIL: Rushil Decor Limited has informed the Exchange regarding Outcome of Fund raising committee Meeting held on Jun 24, 2025.
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Awaiting price reaction for this filing.
Rushil Decor Limited has allotted 66,00,000 equity shares (face value Rs. 1) to 14 allottees upon conversion of 6,60,000 warrants on a preferential basis, raising Rs. 14.70 crores. Warrants were originally issued at Rs. 297 each, and after a stock split (Rs. 10 to Rs. 1), each warrant converts into 10 equity shares, implying an effective conversion price of Rs. 29.70 per share. Additionally, 3,30,000 warrants held by 7 allottees have been forfeited as they failed to exercise conversion within the 18-month deadline, and the 25% amount already paid on these warrants stands forfeited to the company. A separate 10,00,000 warrants held by Vespera Fund Limited are kept in abeyance pending a Securities Appellate Tribunal order.
This is mildly dilutive (66 lakh new shares added to the equity base) but signals execution of a previously announced fundraise. Forfeiture of 3.3 lakh warrants is a small positive as the company retains the upfront 25% payment (approximately Rs. 2.45 crores). The pending Vespera Fund matter could add further shares or proceeds depending on the tribunal's final order.