Conversion of Warrants into Equity Shares and release of Bonus Shares kept reserved upon such conversion
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Shine Fashions (India) Ltd has allotted 1,24,000 equity shares (face value Rs. 5) to promoter Mr. Anil Zaverchand Mehta upon conversion of warrants at Rs. 207 per share (including a premium of Rs. 202). The total consideration for this allotment is approximately Rs. 2.57 crore. Along with this, the company has released 8,68,000 reserved bonus shares in a 7:1 ratio that had been kept aside for the warrant holder. Following this allotment, the company's paid-up equity capital has risen from Rs. 12.94 crore (2,58,72,000 shares) to Rs. 13.43 crore (2,68,64,000 shares). The original 5,60,000 warrants were issued on a preferential basis in September 2024, and only this one allottee has so far chosen to convert.
This increases the promoter's stake in the company and is a positive signal of promoter confidence. While it slightly expands the share count, the dilution was already expected since the bonus shares were reserved back in July 2025, so the market impact is likely to be limited.