Intimation under Regulation 30 for the allotment of 200000 equity shares pursuant to the conversion of warrants.
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SI Capital & Financial Services has allotted 2,00,000 equity shares to a non-promoter, Mr. Jyothish A R, upon conversion of equal number of warrants. The shares were issued at ₹16.25 each (including a ₹6.25 premium over the face value of ₹10), with the company receiving ₹24.37 lakh as the remaining 75% of the issue price. This was a preferential allotment, and following the conversion, the company's paid-up equity capital has risen to ₹5.05 crore, comprising 50,50,000 shares. Mr. Jyothish's stake in the company has increased from 9.28% to 12.87%, and no warrants remain pending for conversion.
Minor equity dilution for existing shareholders as the company's share base grows, though the capital raised is relatively small (~₹24.4 lakh). The new shares rank pari-passu with existing equity, and with no warrants left outstanding, the overhang of potential further dilution is now cleared.