Black Box issues new shares after warrant conversion

Black Box Limited announced the allotment of 71,944 equity shares, each with a face value of INR 2 and a premium of INR 415, as a result of warrant conversions. This conversion follows an initial allotment of 9,265,215 convertible warrants on September 27, 2024, at INR 417 per warrant. Ushma Mehta, a non-promoter allottee, converted 71,944 warrants by paying the balance consideration of INR 22,500,486, leading to a total consideration received of INR 30,000,648 for these shares.

The company's issued, subscribed, and paid-up capital has increased from 17,02,81,100 equity shares (aggregating to INR 34,05,62,200) to 17,03,53,044 equity shares (aggregating to INR 34,07,06,088). These new shares will rank pari passu with existing equity shares.

Following this allotment, 7,142,211 warrants remain outstanding for future conversion. The initial warrants were allotted with a 25% subscription amount received upfront, and the remaining 75% was paid upon exercise of the conversion option.