The allotment of 70,000 (Seventy Thousand Only) Equity Shares of face value of Rs. 5/- (Rupees Five only) each upon conversion of the warrants at an issue price of Rs. 207/- (Rupees Two ....
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Shine Fashions (India) Ltd's Board, at its meeting on March 6, 2026, approved the allotment of 70,000 equity shares (face value Rs. 5) to promoter Anil Zaverchand Mehta upon conversion of warrants at Rs. 207 per share, including a premium of Rs. 202. The total consideration is approximately Rs. 1.44 crore. Alongside, the company released 4,90,000 reserved bonus shares in a 7:1 ratio that were held back until this warrant conversion. Post-allotment, the paid-up share capital rose from Rs. 12.65 crore (2,53,12,000 shares) to Rs. 12.93 crore (2,58,72,000 shares). The promoter's stake increased from 53,15,200 to 58,75,200 shares. Around 1,24,000 warrants are still pending conversion.
This is a routine promoter-led warrant conversion with no fresh capital infusion for the company beyond the warrant exercise price. The release of reserved bonus shares increases the promoter's holding and slightly dilutes non-promoter shareholders, though the overall impact on share price is expected to be minimal.