The Board of Directors of Taylormade Renewables Limited, at its meeting held today, i.e. May 22, 2025, considered and approved allotment of 28,055 Equity shares pursuant to conversion of ....
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Taylormade Renewables Ltd's Board, at its May 22, 2025 meeting, approved the allotment of 28,055 equity shares of ₹10 each upon conversion of warrants that were originally issued on a preferential basis on November 10, 2023. Six non-promoter allottees exercised their conversion option at ₹389.25 per warrant (the warrant exercise price), bringing in a total of approximately ₹1.09 crore to the company. The new shares will rank pari-passu with existing equity shares. Post-allotment, the company's paid-up share capital stands at ₹12.40 crore, comprising 1,23,97,728 equity shares.
This is a routine warrant-to-equity conversion and is largely neutral for shareholders. The new shares represent a small dilution (about 0.23% of total equity), so impact on share price should be minimal. The company receives the balance warrant exercise amount, strengthening its cash position without taking on any debt.