Allotment of 900000 equity shares pursuant to warrants conversion.
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Uday Jewellery Industries has allotted 9,00,000 equity shares to its promoter group entity, Sanghi Jewellers Private Limited, at Rs. 154 per share (including Rs. 144 premium over the Rs. 10 face value), raising approximately Rs. 10.4 crore. This allotment is pursuant to the conversion of 9,00,000 warrants that were originally issued on a preferential basis to the promoter group on 02 November 2024 (out of 15,00,000 warrants allotted at that time). Following this conversion, the company's paid-up equity share capital stands increased to Rs. 23.82 crore, comprising 2,38,21,900 equity shares of Rs. 10 each. The new shares will rank pari-passu with existing equity shares. The remaining 6,00,000 unconverted warrants are still within their 18-month exercise window.
This is a promoter-group-led capital infusion (no public dilution of promoter stake), strengthening the company's equity base by ~Rs. 10.4 crore. For shareholders, it signals continued promoter confidence in the business, though existing minority shareholders face minor equity dilution from new share issuance.