Swojas Foods allots 16 lakh shares on warrant conversion
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On the reaction day the stock moved 4.8 pts less than Nifty Microcap 250 and 4.6 pts less than its Packaged Foods peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Swojas Foods converted 16,00,000 warrants into equity shares of Rs.10 face value at Rs.16.50 each (including Rs.6.50 premium). Allotted to Onelife Capital Advisors (Non-Promoter) on payment of balance 75% amount of Rs.12.375 per share, totalling Rs.1.98 crore. Paid-up equity capital rose to Rs.45.86 crore (4,58,63,312 shares) from Rs.44.26 crore. About 51.8 lakh warrants remain pending conversion.
Modest equity dilution from warrant conversion. Share count rises about 3.6%. Rs.1.98 crore of already committed funds received.