Allotment of 65000 Equity Shares pursuant to conversion of Warrants
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Awaiting price reaction for this filing.
Shine Fashions (India) Ltd has allotted 65,000 equity shares (face value Rs. 5 each) to promoter Mr. Anil Zaverchand Mehta at Rs. 207 per share (including Rs. 202 premium), raising about Rs. 1.34 crore. These shares were issued upon conversion of warrants originally allotted on a preferential basis on September 11, 2024, when 5,60,000 warrants were issued at Rs. 207 each. The promoter paid the remaining 75% balance (Rs. 155.25 per warrant) to exercise the conversion. Post-allotment, the paid-up equity capital stands at 2,48,57,000 shares, with 1,94,000 warrants still pending conversion.
This is a minor, routine capital event — just a 0.26% increase in share count — and reflects an already-approved preferential warrant conversion by the promoter. No material impact on share price is expected, though it signals promoter confidence and slight increase in promoter holding.