Allotment of Equity Shares upon conversion of warrants
SGMART · price
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Awaiting price reaction for this filing.
SG Mart Ltd has allotted 1,36,18,000 equity shares (face value ₹1 each) to non-promoter/public category allottees following the conversion of 6,80,900 warrants. The company received the remaining 75% of the issue price at ₹3,750 per warrant, with the total issue price being ₹5,000 per warrant. This conversion brought in approximately ₹25.54 crore to the company. Major allottees include Mr. Rohan Gupta (76,40,000 shares), Marigold Partners (18,00,000 shares), and Mr. Shiv Kumar Bansal (12,75,000 shares). As a result, the company's paid-up share capital has increased to ₹12.60 crore, comprising 12.60 crore equity shares of ₹1 each. The new shares will rank equally with existing equity shares.
The conversion adds about ₹25.54 crore to the company's capital, but also expands the share count by over 1.36 crore shares, which will lead to dilution of existing shareholders' holdings. The fresh shares hitting the market could exert short-term downward pressure on the stock price.