Sunita Tools converts warrants to equity, significantly boosting share capital
Sunita Tools Limited's board of directors approved the allotment of 123,076 equity shares at INR 325 each (including a premium of INR 315) following the conversion of 123,076 warrants. This preferential allotment to the "Promoter group Category" generated INR 29,999,775.00 from the remaining 75% of the issue price per warrant. Consequently, the company's paid-up equity capital rose from INR 61,100,000 to INR 62,330,760, with new shares ranking pari-passu with existing ones.
The initial issuance on July 04, 2024, involved 170,461 warrants at INR 325 each, with warrant holders paying INR 81.25 per warrant (25% of the issue price). The remaining 75%, or INR 243.75 per warrant, is due upon conversion within 18 months. Currently, 47,385 warrants remain outstanding, with holders entitled to convert them into an equal number of equity shares by paying INR 243.75 per warrant within the 18-month timeframe.
The conversion details list four allottees: Uma Sanjay Pandey (24,615 shares), Nandini Satish Pandey (24,615 shares), Abheshek Satish Pandey (49,231 shares), and Sarvagya Sanjay Pandey (24,615 shares), all under the "Promoter Group" category. These conversions were made possible by in-principle approval from BSE Limited dated June 20, 2024.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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