Outcome of Board Meeting
Price
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Swojas Foods Ltd's Board has approved the conversion of 13,21,000 convertible warrants into 13,21,000 equity shares. The conversion was exercised by Non-Promoter investor Rajesh Nanubhai Jhaveri, who paid Rs. 12.375 per share (75% of the Rs. 16.50 issue price), totaling Rs. 1,63,47,375. The equity shares have a face value of Rs. 10 each. As a result, the company's paid-up equity share capital increased from Rs. 38.66 crore to Rs. 39.98 crore, with total shares rising from 3,86,62,650 to 3,99,83,650. The new shares will rank pari-passu with existing shares, and listing approval from BSE will be sought.
This conversion increases the company's equity base by 1.34% and provides Rs. 1.63 crore in fresh capital. Existing shareholders will see dilution of their percentage holding, while the company benefits from additional capital without new debt.