Please find attached disclosure pursuant to conversion of warrants into equity shares.
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UVS Hospitality and Services Ltd has allotted 1,50,000 equity shares (face value Rs. 10 each) at an issue price of Rs. 17 per share, including a Rs. 7 premium, upon conversion of an equal number of warrants. The warrants were originally issued on a preferential basis on 15th May 2024, and the allottee, Utkarsh Vartak, paid the remaining 75% balance amount of Rs. 19.12 lakh to exercise the conversion. Post-allotment, the allottee's shareholding increased from 1,37,50,000 to 1,39,00,000 shares. The company's paid-up equity capital has risen to Rs. 36.07 crore, comprising 3,62,26,000 shares of Rs. 10 each. The new shares will rank equally with existing equity shares.
This is a minor equity dilution event with a single allottee converting previously issued warrants. The share base expands by about 0.04%, so impact on existing shareholders is negligible. The conversion confirms promoter/insider confidence and brings in additional capital for the company.