Allotment of 20,00,000 fully paid-up Equity Shares of Rs 10/- each upon conversion of warrants into Equity shares on Preferential Basis
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Saptak Chem and Business Limited has allotted 20 lakh equity shares of Rs 10 each to 4 non-promoter warrant holders upon conversion of their warrants. The conversion price was Rs 10.50 per warrant, with investors paying Rs 7.875 per warrant (75% balance amount) totaling Rs 1.58 crore. Each investor—Akshay Shah HUF, Jayshree Jain, HMM Consultancy LLP, and Ankush Agarwal HUF—received 5 lakh shares each. The paid-up capital has increased from Rs 1.07 crore to Rs 3.07 crore. These 4 investors collectively now own 65.08% of the company, having held zero shares before this conversion. There remain another 20 lakh warrants pending conversion.
Significant dilution for existing shareholders as the equity base has nearly tripled. The 65% stake acquired by 4 non-promoter investors represents a large block of shares changing hands, which could impact stock liquidity and shareholder control dynamics.