Conversion of Convertible Warrant into Equity Shares
Price
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Swadeshi Industries & Leasing Ltd announced that its Board, at a meeting held on March 5, 2026, approved the conversion of 1,23,10,000 (1.23 crore) convertible warrants into an equal number of equity shares of face value Rs. 10 each. The conversion price is Rs. 10 per share, on a 1:1 basis, taking the total amount to Rs. 12.31 crore. The 75% subscription amount had already been received earlier, and the remaining 25% has now been paid, triggering full conversion. The shares have been allotted to 48 allottees, including promoters and non-promoters, as listed in the disclosure. This is a preferential allotment carried out under SEBI ICDR Regulations and Sections 62 and 42 of the Companies Act, 2013.
This conversion increases the company's equity share capital by Rs. 12.31 crore (1.23 crore new shares), which may lead to share price dilution for existing shareholders. There is no fresh cash inflow beyond the balance 25% amount already committed by allottees.