Thomas Scott (India) Limited has informed the Exchange regarding allotment of 2007500 securities pursuant to Preferential Issue at its meeting held on May 07, 2025
THOMASCOTT · price
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Thomas Scott (India) Limited has allotted 20,07,500 equity shares of face value Rs. 10 each at a premium of Rs. 71 per share (total Rs. 81 per share) upon conversion of convertible warrants on a preferential basis. The allottees include promoter group member Mrs. Vandana Bang (6,25,000 shares) and three non-promoters — Mr. Mohit Khullar (7,00,000), Mr. Shankar Sharma (6,50,000), and Mr. Anuddin Khan (32,500). The conversion was based on the special resolution passed at the EGM held on October 12, 2023, with a 1:1 warrant-to-equity ratio. Post-allotment, the company's equity share capital rises from Rs. 12.66 crore to Rs. 14.67 crore, with total shares increasing from 1,26,62,880 to 1,46,70,380. The newly issued shares will be locked in as per SEBI ICDR Regulations.
This is a dilution event for existing shareholders (~15.9% increase in share count) as pre-issued warrants are now converted into equity. The promoter group's participation signals continued insider confidence, while the influx of new non-promoter shareholders broadens the equity base. Short-term share price may face mild pressure due to the increased float, though the premium pricing indicates the warrants were originally issued at favorable terms.