The Company hereby submits continuous disclosure with respect of allotment of 10,18,300 Equity Shares consequent upon conversion of 10,18,300 convertible warrants issued earlier.
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Simran Farms has converted 10,18,300 convertible warrants into equity shares at Rs. 155 per share (including a Rs. 145 premium), completing a preferential allotment that began in October 2024. The company received the remaining 75% balance of Rs. 11.84 crore from the allottees, bringing the total warrant issue value to about Rs. 15.78 crore. Of the 12 allottees, 9 are from the promoter/promoter group (6,18,300 warrants) and 3 are non-promoters (4,00,000 warrants). As a result, the company's paid-up equity capital has risen from Rs. 3.79 crore to Rs. 4.81 crore, with the total share count going from 37,91,700 to 48,10,000 shares (about 26.9% expansion). The new shares will be subject to SEBI ICDR lock-in rules from the date of BSE trading approval.
The conversion boosts the company's equity base by roughly 27%, which dilutes existing shareholders, but most of the new shares went to promoter-group members, indicating promoter confidence and skin-in-the-game. The new shares carry a lock-in, limiting immediate supply pressure on the stock. No fresh cash was raised beyond what was already committed at the time of warrant issuance.