Conversion of Warrants and Allotment of Equity Shares
Price
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Awaiting price reaction for this filing.
Vikram Kamats Hospitality Ltd has allotted 2,43,243 equity shares of ₹10 each to three non-promoter allottees — Mr. Divam Sharma, Ms. Kalpana Jain, and Pharma Synth Formulations Ltd — upon conversion of an equal number of warrants. The warrants were originally issued on a preferential basis on September 28, 2024, and the company has now received the balance 70% subscription money at ₹51.80 per warrant, aggregating to about ₹1.26 crore. The issue price was ₹74 per share (including a ₹64 premium over face value). As a result, paid-up equity capital has risen from ₹15.25 crore to ₹15.49 crore, with total shares increasing from 1,52,48,838 to 1,54,92,081. Around 13.92 lakh warrants are still pending conversion.
This is a minor dilution event (about 1.6% increase in share count) from previously committed warrants converting into shares, bringing in roughly ₹1.26 crore to the company. Shareholders should note that further dilution is possible as 13.92 lakh more warrants remain pending conversion.