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Awaiting price reaction for this filing.
The Board of Swojas Foods Ltd has approved the allotment of 2,59,84,500 convertible warrants at Rs. 16.50 per warrant to six non-promoter allottees, aggregating to Rs. 42.87 crore. The company has already received Rs. 10.72 crore as 25% upfront subscription money from the allottees. Each warrant is convertible into one equity share of Rs. 10 face value, with the balance 75% (Rs. 12.375 per warrant) payable within 18 months upon conversion. Key allottees include Onelife Capital Advisors (1 crore warrants), Dulcee Accessories (59 lakh), and entities related to the Jhaveri family (combined ~1 crore warrants).
This preferential warrant issue will dilute existing shareholders if all warrants are converted into equity within 18 months, potentially expanding the share base by over 2.6 crore shares. The stock may see short-term pressure due to dilution overhang, though the Rs. 42.87 crore inflow (if fully converted) strengthens the company's balance sheet for growth or working capital needs.