Outcome of Board Meeting under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Allotment of 42,90,575 (Forty-Two Lakhs Ninety Thousand Five ....
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Vega Jewellers has converted 42,90,575 convertible warrants into equity shares of Rs. 10 each, allotted to 65 warrant holders who paid the balance exercise price of Rs. 41.25 per warrant (75% of the issue price of Rs. 55). The company received Rs. 17.69 crore from this tranche. The paid-up equity capital has jumped sharply from Rs. 48 lakh (4.80 lakh shares) to about Rs. 4.77 crore (47.70 lakh shares), nearly a 10x expansion. These warrants were originally issued on a preferential basis in December 2024 as part of a larger 92.16 lakh warrant issue. Around 32.93 lakh warrants are still pending conversion, which will lapse if not exercised within 18 months of the original allotment.
Shareholders should note significant dilution as the share count has risen roughly 10x, though this was pre-disclosed when warrants were issued in December 2024. The fresh shares rank pari-passu with existing equity, and listing approval will be sought from the exchange. Remaining unconverted warrants could cause further dilution or lapse entirely by June 2026.