Conversion of 2,79,000 Warrants into 2,79,000 Equity Shares
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Awaiting price reaction for this filing.
Shelter Pharma Ltd has converted 2,79,000 convertible equity warrants into 2,79,000 fully paid equity shares of face value Rs. 10 each. This conversion was done at an issue price of Rs. 42.25 per share (including a premium of Rs. 32.25), with the remaining 75% exercise price of Rs. 31.6875 per warrant collected in cash, aggregating to Rs. 88.40 lakhs. The warrants were originally allotted on a preferential basis to 3 non-promoter investors in August 2025 out of a total 88,08,000 warrants issued. As a result, the company's paid-up equity share capital has increased from Rs. 16.33 crore (1.63 crore shares) to Rs. 16.61 crore (1.66 crore shares). The new shares will rank pari-passu with existing equity shares, and listing approval from BSE will be sought in due course.
This is a minor dilution event (about 1.7% increase in share count) coming from previously issued warrants being exercised. Existing shareholders see a small dilution, but the company has already received the full warrant money, so there's no new cash inflow. The conversion signals that the original warrant holders are confident enough to convert, which is mildly positive for the stock.