Allotment of Equity pursuant to Conversion of Warrants in the board meeting held on 29.05.2025.
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Vega Jewellers has allotted 1,36,553 equity shares of Rs. 10 face value to 6 warrant holders who exercised their conversion option at Rs. 41.25 per warrant. This is the fourth tranche of conversions stemming from 92,16,298 convertible warrants originally issued on December 26, 2024, on a preferential basis to 103 allottees at a total issue price of Rs. 55 per warrant (Rs. 13.75 upfront subscription + Rs. 41.25 exercise price). The company received Rs. 13.65 lakh from this tranche. With this allotment, the paid-up equity capital rises from Rs. 9.50 crore (95,06,744 shares) to Rs. 9.64 crore (96,43,297 shares). Allottees include individuals such as Dinesh Sunkara, Cheruku Durga Prasad, and Deepak Kharwad (HUF).
This is a small, incremental dilution of about 1.4% in this tranche and was largely anticipated since warrants were issued months ago. The conversion brings in additional cash for the company and reduces the pool of outstanding warrants, but signals no material change for existing shareholders beyond mild share count expansion.