Allotment of 85,15,000 Equity Shares to Promoters and other than promoters pursuant to the conversion of warrants issued on preferential basis.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Vashu Bhagnani Industries Ltd (formerly Pooja Entertainment and Films Ltd) has allotted 85,15,000 equity shares of face value Rs. 10 each at a premium of Rs. 20 per share, converting the same number of warrants on a 1:1 basis. Promoter Vashu Bhagnani received 50,50,000 shares, promoter-group member Deepshikha Dhiraj Deshmukh received 16,50,000 shares, and non-promoter Rejoice Developers Pvt Ltd received 18,15,000 shares. Total equity shares now stand at 6,39,53,500 (up from 5,54,38,500), raising about Rs. 25.5 crore at Rs. 30 per share. The shares are subject to lock-in under SEBI ICDR norms, and the company will seek BSE listing of these newly issued shares.
This is a dilution event as the share count rises by roughly 15%, with promoters taking the bulk of the allotment, showing continued promoter commitment but also expanding the equity base. Short-term share price may face pressure due to dilution and lock-in overhang, though the capital infusion at a premium strengthens the company's equity base.