The members of the Board of Directors of the Company through resolution passed by circulation on 26th June, 2025, considered and approved the allotment of equity shares pursuant to the conversion of warrants into Equity Shares.
SKYGOLD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sky Gold and Diamonds has converted 2,07,000 warrants into equity shares of Rs. 10 face value at Rs. 1,017 per share, allotted to three promoters — Mangesh Chauhan, Darshan Chauhan, and Mahendra Chauhan. The company received Rs. 15.79 crore as the balance 75% payment (Rs. 762.75 per warrant) toward the warrant exercise price. Alongside this, 18,63,000 bonus shares (in a 9:1 ratio, approved earlier in November 2024) were also allotted to the same allottees. The company's paid-up share capital rises from Rs. 146.70 crore to Rs. 148.77 crore. The newly allotted shares will rank equally with existing equity shares.
The conversion is mildly dilutive for non-promoter shareholders but brings in fresh capital from promoters at a premium to face value, signaling promoter confidence. Shareholders may see a temporary dip in EPS due to the increased share count, though the bonus shares were already factored into expectations.