Allotment of 17.7 lakh shares to promoters on loan conversion
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Board approved allotment of 17,70,710 equity shares at INR 42 each (face value INR 5, premium INR 37), totalling INR 7.44 crores, on a preferential basis upon conversion of unsecured loans. Allottees are promoter Brahma Gurbani (16,93,880 shares) and promoter group Meera Gurbani (76,830 shares). Brahma Gurbani's stake rises from 5.84 percent to 7.48 percent; Meera Gurbani's from 3.46 percent to 3.47 percent.
Promoter stake increases via loan-to-equity conversion; no fresh cash inflow and minor dilution for public shareholders.