Allotment of equity shares pursuant to conversion of Compulsorily Convertible Debentures (CCDs)
UGROCAP · price
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Ugro Capital has allotted 56,818 equity shares to holders of its Compulsorily Convertible Debentures (CCDs) who exercised their conversion option. The shares were issued at Rs. 264 each (Rs. 10 face value plus Rs. 254 premium), in line with the original terms. This is part of the larger Rs. 1,265 crore capital raise done in June 2024 through preferential allotment of CCDs and convertible warrants. As a result, the company's paid-up equity share capital has risen from 11,67,55,457 shares to 11,68,12,275 shares. The new shares will rank equally with existing shares.
This is a routine conversion of previously issued CCDs into equity and is not a fresh capital raise. The impact on shareholders is minimal, with only a marginal increase in share count (less than 0.05% dilution). No new capital is being raised here; it simply converts existing instruments into equity as per their original terms.