Mufin Green Finance converts warrants to equity shares

Mufin Green Finance (BSE: MUFIN) announced the conversion of 4,640,000 convertible warrants into an equal number of equity shares, each with a face value of INR 1, effectively increasing the company's issued and paid-up capital to INR 172,955,172. The conversion was executed at a warrant exercise price of INR 41.25 per warrant, resulting in a total inflow of INR 191,400,000. The warrant conversion was approved by the Committee of Directors on June 26, 2025, and was related to the warrants issued on December 27, 2023. After this conversion, 2,118,000 warrants out of an initial issue of 2,550,000 warrants have now been converted into equity shares. Warrants lapsed totalled 43,200,000 due to non-exercise by the holders within the stipulated 18-month period, forfeiting the upfront 25% issue price paid by allottees. The newly allotted equity shares will rank pari passu with the existing equity shares of the company.