Please find attached the intimation for allotment of equity shares pursuant to conversion of warrants.
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UVS Hospitality and Services Ltd has allotted 7,40,000 equity shares at Rs. 17 each (face value Rs. 10, premium Rs. 7) following the conversion of warrants issued on a preferential basis. The company received Rs. 94.35 lakh as the balance 75% payment from the warrant holders. Three allottees received shares: Sanjana Madineni (2 lakh), Prathima Madineni (2.4 lakh), and Mallinath Madineni (3 lakh). As a result, the company's paid-up capital has increased to Rs. 37.38 crore comprising 3,73,82,600 equity shares. This completes the conversion of warrants that were originally allotted in May 2024.
This is a routine conversion of previously issued warrants into equity shares, leading to a marginal increase in share count and dilution for existing shareholders. The new shares will rank equally with existing shares, and the capital infusion strengthens the company's equity base without any debt.