Intimation of Allotment of convertible warrants
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Standard Surfactants Ltd has allotted 8,00,000 fully convertible warrants to its promoter group on a preferential basis. The warrants were issued at Rs 58 per unit (face value Rs 10 plus premium Rs 48), with 25% subscription amount (Rs 14.50 per warrant) received upfront totaling Rs 1.16 crore. The three allottees are Pawan Kumar Garg (2.54 lakh warrants), Kunal Garg (3.81 lakh warrants), and Ankur Garg (1.65 lakh warrants). Each warrant holder can convert to one equity share by paying the remaining 75% within 18 months from the date of issue.
The warrants will dilute equity when converted, but since all allottees are from the promoter group, control remains concentrated. The Rs 1.16 crore inflow provides some capital to the company.