The Board of Directors of the Company, through a resolution passed by circulation on Thursday, 26th June 2025, has considered and approved the allotment of Equity Shares pursuant to the Conversion of Warrants into Equity Shares.
SKYGOLD · price
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Sky Gold and Diamonds has converted 2,07,000 warrants into equity shares and allotted them to its three promoters — Mangesh Chauhan, Darshan Chauhan, and Mahendra Chauhan — on a preferential basis. The warrants were originally issued in February 2024 at Rs. 1,017 each; the promoters have now paid the remaining 75% (Rs. 762.75 per warrant), bringing in about Rs. 15.79 crore. Additionally, 18,63,000 bonus shares were issued in a 9:1 ratio to the same allottees, as approved by shareholders in November 2024. The company's paid-up share capital rises from Rs. 146.70 crore to Rs. 148.77 crore, and the new shares will rank equally with existing ones.
Existing shareholders face dilution from both the preferential conversion and the 9:1 bonus issue, which significantly expands the share base. However, the entire allotment is to promoters, strengthening their control and signaling confidence in the business. The stock may see short-term price pressure as bonus shares become tradable.