W S Industries (I) Limited has informed the Exchange about Conversion
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Awaiting price reaction for this filing.
W.S. Industries has allotted 5,35,120 equity shares to six warrant holders upon conversion of convertible warrants that were originally issued on a preferential basis in September 2024. The shares were issued at ₹149.50 per share (face value ₹10, premium ₹139.50), with the company receiving the balance 75% consideration of ₹6 crore between July 7 and July 16, 2025. All six allottees belong to the Promoter Group, meaning promoters have now fully paid up and converted their warrants into equity. The original issue in September 2024 involved 24,34,786 warrants, of which 5,35,120 have now been converted in this tranche. The Allotment Committee approved the conversion at its meeting on July 17, 2025.
This is a promoter-driven event with no new external investors; promoters are converting their warrants into shares by paying the remaining 75% (~₹6 crore), signalling continued confidence and commitment of money into the company. The dilution is modest (5.35 lakh shares) and is largely a technical conversion of securities already counted, so the immediate stock price impact is expected to be neutral to mildly positive.