Allotment
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Swojas Foods Ltd has converted 16,00,000 convertible warrants into equity shares of face value ₹10 each. These warrants were originally allotted on a preferential basis at ₹16.50 per warrant (including a premium of ₹6.50). The conversion was done by a non-promoter entity, Onelife Capital Advisors Limited, which paid the remaining 75% of the issue price (₹12.375 per share), amounting to ₹1.98 crore in total. Following this conversion, the company's paid-up equity capital increased from ₹35.06 crore (3,50,62,650 shares) to ₹36.66 crore (3,66,62,650 shares). The newly allotted shares will rank equally with existing equity shares, and the company will apply for listing and trading approval from BSE.
This is a routine conversion of previously issued warrants into shares, resulting in a small dilution of about 4.6% (16 lakh new shares out of 3.66 crore total). No fresh capital raising impact as the warrants had already been partly paid earlier; the remaining 75% amount of ₹1.98 crore has now been received by the company.