Preferential allotment of 1.516 crore convertible equity warrants
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Sun Retail's board allotted 15,16,14,786 fully convertible equity warrants to five non-promoter allottees at Rs 1 per warrant. This is the second preferential tranche. The company received 25% upfront, with 75% due on conversion. Each warrant can convert into one equity share within 18 months, so paid-up capital is unchanged for now.
No immediate change in paid-up capital. If converted, the warrants would add 1.516 crore shares and dilute existing shareholders.