Conversion of 114000 warrants into Equity Shares
Price
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Shelter Pharma Ltd has approved conversion of 114,000 convertible warrants held by three non-promoter investors into 114,000 fully paid equity shares. The conversion price is ₹42.25 per share (including ₹32.25 premium), with investors paying the remaining 75% exercise price of ₹31.6875 per warrant. The company received ₹36,12,375 as balance consideration for this conversion. Post-conversion, the paid-up share capital increased from ₹16.61 crore to ₹16.73 crore, with total shares rising from 1.66 crore to 1.67 crore. The remaining 60,000 warrants from the original 88,08,000 allotment are still outstanding for future conversion.
The conversion increases the company's equity base by 1,14,000 shares, causing modest dilution for existing shareholders. Since the warrants were exercised by non-promoter investors, there is no immediate change in promoter holding but overall public shareholding will increase.