Conversion of Warrants and allotment of Equity Shares
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Vikram Kamats Hospitality Ltd has allotted 86,541 equity shares of face value ₹10 each to its Promoter and Managing Director, Dr. Vikram V. Kamat, upon conversion of an equal number of warrants. The warrants were originally issued at ₹74 per share (₹10 face value + ₹64 premium), and the remaining 70% subscription money of ₹51.80 per warrant has now been received, bringing in approximately ₹44.83 lakh. Post this allotment, Dr. Kamat's shareholding has increased from 7.80% (11,90,000 shares) to 8.37% (12,76,541 shares). The company's total paid-up equity capital has risen from ₹15.16 crore to ₹15.25 crore, with total shares now standing at 1,52,48,838. Additionally, 16,35,622 warrants are still pending conversion, including 2,64,000 held by Dr. Kamat himself.
This promoter-led warrant conversion signals the promoter's continued confidence and financial commitment to the company, while bringing in incremental capital. However, existing shareholders should note that further dilution is possible as 16,35,622 additional warrants remain pending conversion in the future.