Conversion of Warrants and Allotment of Equity shares
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Awaiting price reaction for this filing.
Vikram Kamats Hospitality has allotted 2,83,784 equity shares of ₹10 face value to three allottees upon conversion of warrants that were originally issued on a preferential basis on September 28, 2024. The shares were allotted at ₹74 each (₹10 face value plus ₹64 premium), and the company received approximately ₹1.47 crore as the balance 70% warrant exercise money. Allottees include Ms. Mrinalini Ramesh Jaisinghani (67,568 shares), Green Portfolio Private Limited (1,08,108 shares), and The Golden Bird India Fund LP, an FPI (1,08,108 shares). As a result, the company's paid-up equity capital increased from ₹15.49 crore to ₹15.77 crore, with total shares rising from 1.55 crore to 1.58 crore. About 11.09 lakh warrants are still pending conversion.
This is a small dilution for existing shareholders (less than 2% increase in share count) and brings in an FPI, which may be viewed positively for institutional interest. However, the size of the allotment is modest and unlikely to materially impact the stock price.