Warrant conversion - 16.16 lakh shares allotted to non-promoter investor
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Swojas Foods has allotted 16,16,162 equity shares on conversion of warrants by non-promoter Onelife Capital Advisors. Each warrant had face value Rs. 10 and issue price Rs. 16.50 (including Rs. 6.50 premium). The remaining 75% amount of Rs. 12.375 per share was received, totaling about Rs. 2 crore. Paid-up share capital increased from Rs. 42.65 crore to Rs. 44.26 crore, taking total shares to about 4.43 crore. About 67.84 lakh warrants held by the same investor are still pending conversion.
Mild dilution for existing shareholders as equity base grows. Further dilution possible as 67.84 lakh warrants remain unconverted with the same investor.