Allotment of 70,000 Equity Shares pursuant to conversion of warrants into Equity Shares
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Shine Fashions (India) Ltd has allotted 70,000 equity shares to two non-promoter individuals — Sangeeta Pareekh (50,000 shares) and Vivek Sawhney (20,000 shares) — upon conversion of their warrants at Rs. 207 per share (face value Rs. 5, premium Rs. 202). This is part of the earlier preferential issue of 5,60,000 convertible warrants made on September 11, 2024. The warrant holders paid the remaining 75% (Rs. 155.25 per warrant) to exercise the conversion. Total money raised from this tranche is approximately Rs. 1.44 crore. After this allotment, the company's paid-up equity capital stands at 30,99,000 shares, with 2,59,000 more warrants still pending conversion.
This is a routine warrant-to-equity conversion, so it slightly expands the share count (dilution is small at about 2.3% of pre-allotment capital). Existing shareholders may see marginal dilution, but since the price of Rs. 207 was already locked in earlier, there is no new pricing risk. The company is also bringing in about Rs. 1.44 crore of cash, which is positive for liquidity.