Conversion of Warrant into Equity Shares
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The board, at its meeting on 19th May 2025, approved the conversion of 1,97,394 warrants into 1,97,394 equity shares of Rs.10 face value each. These warrants were originally allotted on 5th February 2024 on a preferential basis. The sole allottee is promoter Ashwani Khemka, who exercised his conversion rights. As a result, his shareholding increased from 27.13% (32,23,045 shares) to 28.32% (34,20,439 shares). The company's paid-up equity capital rose from Rs.11.88 crore to Rs.12.08 crore, taking total shares to 1,20,79,088.
This is a small, promoter-driven dilution event with a marginal increase in the promoter's stake. Existing non-promoter shareholders see a slight dilution (~1.19%), while the move signals continued promoter confidence in the company.