1. Conversion of Convertible Warrant into Equity Shares We would like to inform you that, pursuant to our letter dated December 20, 2024 and January 15, 2025 by the Board of the Company, ....
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The Board of Sunrise Efficient Marketing Ltd, at its meeting on April 10, 2025, approved the conversion of 6,65,000 convertible warrants into equity shares at Rs. 106 per share. Each warrant converts into one equity share of Rs. 10 face value, resulting in the issuance of 6,65,000 new equity shares. The shares are allotted to two non-promoter allottees: Anil Deepchand Goplani (1,90,000 shares) and Hinaben Kirtikumar Desai (4,75,000 shares). This is pursuant to the Board's earlier letters dated December 20, 2024 and January 15, 2025, and follows SEBI ICDR Regulations and Section 62/42 of the Companies Act, 2013. The company will receive approximately Rs. 7.05 crore in subscription proceeds from this conversion.
This is a routine dilution event where previously issued warrants are being converted into shares, increasing the total share count by 6,65,000 shares. Shareholders should note minor equity dilution, though the company receives fresh capital to strengthen its books.