Allotment of 1.17 crore equity shares at Rs 13 on preferential basis
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On the reaction day the stock moved 3.8 pts more than Nifty Microcap 250 and 3.6 pts more than its Pesticides & Agrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Super Crop Safe Ltd has allotted 1,17,44,722 equity shares at Rs 13 each to non-promoters Wherrelz IT Solutions and Voltrix INC, totaling about Rs 15.27 crore. This is a preferential issue for conversion of outstanding unsecured loans into equity. Post-allotment, paid-up share capital rises from 4.02 crore to 5.20 crore equity shares of Rs 2 face value.
Loan-to-equity conversion strengthens balance sheet but dilutes existing shareholders by about 29 percent as new investors gain significant stakes.