Allotment of 2434100 equity Shares pursuant to exercise of warrants allotted on preferential bases.
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Awaiting price reaction for this filing.
Shish Industries Ltd has allotted 24,34,100 equity shares of Re. 1 each to warrant holders upon exercise of 24,341 warrants that were originally issued on a preferential basis. The company received a balance amount of Rs. 2.19 crore from these warrant holders as the final exercise consideration. Following this allotment, the company's paid-up equity share capital has risen from Rs. 37.95 crore (37.95 crore shares) to Rs. 38.19 crore (38.19 crore shares). The allotment is subject to realisation of the consideration already paid via RTGS/NEFT.
This is a pre-scheduled warrant conversion that results in a minor equity dilution of about 0.06% for existing shareholders. The stock price may see mild short-term supply pressure, but since the warrants were already allotted earlier, the impact is largely already priced in.