To Allot Fully Convertible Equity Warrants on a Preferential basis
Awaiting price reaction for this filing.
The Board of Omega Interactive Technologies allotted 9,65,000 fully convertible equity warrants to 11 non-promoter investors at Rs. 103.50 per warrant (Rs. 10 face value plus Rs. 93.50 premium), raising a total issue size of about Rs. 9.99 crore in the first tranche. The company has already received the mandatory 25% upfront consideration from the allottees. Each warrant is convertible into one equity share of Rs. 10 face value at the option of the allottees within 18 months, with the remaining 75% payable on conversion. The largest allottee, Parth H Kunwar, received 2,35,000 warrants (2.05% post-issue), while the smallest allottee received 10,000 warrants. Since these are warrants and not shares, the company's paid-up share capital does not change at this stage.
No immediate dilution or capital change, but the share count will rise once allottees convert their warrants within 18 months. The fresh capital (full ~Rs. 9.99 crore once converted) will strengthen the company's funds, while existing shareholders may see modest dilution of their holding percentage.