Outcome of Board Meeting pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015
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The board approved the allotment of 18,50,000 equity shares (face value Rs. 10 each) at Rs. 73 per share (including a Rs. 63 premium) to 4 allottees, arising from the conversion of convertible warrants originally issued on a preferential basis in August 2024. The company received Rs. 10.13 crore on this conversion. Three allottees are from the promoter/promoter group and one is a non-promoter strategic investor. As a result, the paid-up equity share capital rose from Rs. 20.07 crore to Rs. 21.92 crore, with total shares increasing from 2,00,71,400 to 2,19,21,400.
This is a pre-planned warrant conversion rather than fresh fundraising, so it brings in Rs. 10.13 crore of confirmed capital with no surprise dilution. Shareholders should note a modest expansion in share count (~9.2% increase) but the capital was already anticipated since the warrants were issued earlier.