Allotment of 21000 Equity Shares of face value of Rs.5/- each pursuant to conversion of warrants into Equity Shares at an issue price of Rs. 207/- each, including premium of Rs. 202/- each.
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Shine Fashions (India) Ltd has allotted 21,000 equity shares (face value Rs. 5 each) at an issue price of Rs. 207 per share, including a premium of Rs. 202 per share. These shares were issued upon conversion of warrants by Purvi Anil Sanghvi, a promoter-category individual, who paid the remaining 75% of the warrant price (Rs. 155.25 per warrant). This follows the earlier allotment of 5,60,000 convertible warrants on a preferential basis in September 2024. The total consideration received is approximately Rs. 43.47 lakh, and post-allotment the promoter's shareholding rises to 2,71,100 shares (8.95% of the expanded capital). Around 3,29,000 warrants are still pending conversion.
This is a minor equity dilution with promoter confidence being demonstrated, as a promoter chose to convert warrants into shares by paying the balance amount. The cash inflow of ~Rs. 43.47 lakh strengthens the company's funds, but with 3.29 lakh more warrants still pending conversion, further dilution is expected in the coming periods.