Conversion of 65000 Warrants into fully paid up Equity Shares
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Shine Fashions (India) Ltd has allotted 65,000 equity shares upon conversion of warrants held by promoter Mr. Anil Zaverchand Mehta at Rs. 207 per share (face value Rs. 5, premium Rs. 202), aggregating to roughly Rs. 1.35 crore. This conversion is part of the 5,60,000 convertible warrants originally allotted on a preferential basis in September 2024 at the same issue price. The allottee paid the remaining 75% balance of Rs. 155.25 per warrant to exercise the conversion. Post-allotment, the company's paid-up equity capital stands at 2,48,57,000 shares, and 194,000 more warrants are still pending conversion.
This is a promoter-driven conversion with negligible dilution impact on retail shareholders. It reflects continued promoter commitment, though investors should note the remaining 194,000 warrants could add further dilution once converted.