Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The Board of Directors of Swagtam Trading & Services Ltd, at its meeting held on May 14, 2025, approved the allotment of 24,15,000 convertible warrants to 35 non-promoter investors on a preferential basis. Each warrant carries a face value of Rs. 10 and is issued at Rs. 65 (including a premium of Rs. 55), aggregating to Rs. 15.69 crores. Investors will pay 25% (Rs. 3.92 crores) upfront, with the remaining 75% due upon conversion into equity shares within 18 months. If warrants are not converted within the 18-month period, they will lapse and the upfront 25% will be forfeited. The allotment was made under the shareholder approval granted via special resolution dated February 27, 2025. The Board also constituted an Allotment Committee comprising four directors to oversee the process.
This is a dilution event for existing shareholders — up to 24.15 lakh new equity shares could be issued upon warrant conversion, potentially increasing the share count and diluting promoter holding. The company raises immediate cash of around Rs. 3.92 crores now, with the rest contingent on conversion within 18 months.