We wish to inform that the Allotment Committee of the Board of Directors of the Company, in its meeting held today, has issued and alloted an aggregate of 2,25,00,000 fully paid-up equity ....
Awaiting price reaction for this filing.
Dhani Services has allotted 2.25 crore fully paid-up equity shares of face value Rs. 2 each to two Promoter Group companies — Valerian Real Estate Pvt Ltd and Calleis Infracon Pvt Ltd (1.125 crore shares each) — upon conversion of equivalent warrants. The issue price was Rs. 90.30 per share, including a premium of Rs. 88.30, which is about 35% above the current market price. The company received Rs. 152.38 crore as the balance 75% consideration for the warrant conversion. Following this allotment, the total paid-up equity capital rose to Rs. 130.90 crore, comprising about 64.96 crore fully paid-up shares and 88.88 lakh partly paid-up shares.
The share count has increased by roughly 3.5%, and existing shareholders face dilution. However, since the warrants were issued to Promoter Group entities at a price ~35% above market, the promoter group is reinforcing its commitment and bringing in fresh capital of Rs. 152 crore into the company.