Conversion of Warrants and Allotment of Equity Shares
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The Allotment Committee of Vikram Kamats Hospitality Ltd has approved the conversion of 1,54,000 warrants into equity shares, resulting in the allotment of an equal number of shares to promoter Kamats Worldwide Food Services Private Limited. The conversion was done at ₹74 per share (including a ₹64 premium over the ₹10 face value), with the company receiving the remaining 70% amount of ₹51.80 per warrant, aggregating to ₹79.77 lakh. As a result, the promoter's stake in the company has increased from 22.09% to 22.78% (39,38,500 shares), and the total paid-up equity capital has risen from ₹17.14 crore to ₹17.29 crore. The original warrants were issued on a preferential basis on September 28, 2024, and 9,54,595 warrants are still pending conversion, of which 3,86,541 belong to the same promoter group.
This is a routine capital event where warrants previously issued to a promoter are being converted into shares, marginally increasing the promoter's stake and the company's equity base. There is no fresh fundraising here — the company had already received the initial 30% tranche earlier — so cash flow impact is limited to the ₹79.77 lakh now received. For shareholders, this slightly dilutes minority holders' stake but strengthens the promoter's commitment to the company.