Announced Sat, 30 May · 11:50 IST

Outcome of Board Meeting

Warrants ConvertedFund Raising View source PDF

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AI summary

Swojas Foods Ltd's board approved the conversion of 13,31,500 convertible warrants held by non-promoter investor Jhaveri Trading and Investment Pvt Ltd into an equal number of equity shares. The conversion was at Rs. 16.50 per warrant (face value Rs. 10 plus premium Rs. 6.50), with the remaining 75% exercise price of Rs. 12.375 per share totaling Rs. 1.65 crore received. This increased the company's paid-up equity share capital from Rs. 39.98 crore to Rs. 41.32 crore. The new shares rank pari-passu with existing equity shares.

Likely market impact

This warrants conversion represents dilution of approximately 3.3% for existing shareholders as the share count increased from 39.98 crore to 41.32 crore shares. The company received Rs. 1.65 crore in cash from the exercise, providing liquidity without taking on debt.