Cineline India Limited has made a disclosure under Regulation 30 of SEBI Listing Regulations regarding the allotment of equity shares through conversion of warrants previously issued on a preferential basis.

Key Quantitative Figures

  • Total equity shares allotted: 38,46,153 shares of face value ₹5 each
  • Warrant exercise price received: ₹33,74,99,925.75 (₹33.75 crore)
  • Exercise price per warrant: ₹87.75
  • Total issue price per warrant (including earlier subscription): ₹117
  • Previous warrant subscription price received: ₹29.25 per warrant (25% of issue price)
  • Post-allotment paid-up share capital: ₹19,05,62,935
  • Post-allotment total equity shares: 3,81,12,587 shares

Dates of Action

  • Warrant allotment date: 3rd February 2025
  • Conversion and equity share allotment date: 30 July 2026
  • Disclosure date: 30 July 2026

Parties Involved

Allottees (as per Annexure A):

1. Ashish Rasesh Kanakia (Promoter/Promoter Group) - 5,34,188 shares

2. Niyati Rasesh Kanakia (Promoter/Promoter Group) - 5,34,188 shares

3. Vrutant Himanshu Kanakia (Promoter/Promoter Group) - 5,34,188 shares

4. Vrusti Benefit Trust (Promoter/Promoter Group) - 5,34,188 shares

5. Utpal Sheth (Non-Promoter) - 17,09,401 shares

Shareholding Pattern Changes

Pre and Post-Issue Shareholding Details:

  • Ashish Rasesh Kanakia: Pre-issue 10,42,133 shares (3.04%) → Post-issue 15,76,321 shares (4.14%)
  • Niyati Rasesh Kanakia: Pre-issue 10,42,133 shares (3.04%) → Post-issue 15,76,321 shares (4.14%)
  • Vrutant Himanshu Kanakia: Pre-issue 10,42,133 shares (3.04%) → Post-issue 15,76,321 shares (4.14%)
  • Vrusti Benefit Trust: Pre-issue 10,42,133 shares (3.04%) → Post-issue 15,76,321 shares (4.14%)
  • Utpal Sheth: Pre-issue Nil shares (0%) → Post-issue 17,09,401 shares (4.49%)

Capital Structure Impact

The equity share capital has increased from the pre-issue level to ₹19,05,62,935 consisting of 3,81,12,587 equity shares. The new equity shares will rank pari-passu with existing equity shares.

Warrant Terms and Conditions

  • Warrants were allotted with 18-month tenure from date of allotment (3rd February 2025)
  • Each warrant carries right to subscribe to 1 equity share
  • Conversion could be exercised in one or more tranches during the 18-month period
  • 25% of issue price (₹29.25 per warrant) was received at time of warrant allotment
  • Balance 75% (₹87.75 per warrant) received at time of conversion
  • Unexercised warrants after 18 months would lapse with forfeiture of amount paid

Financial Impact

The transaction has resulted in cash inflow of ₹33.75 crore to the company and increased the equity base by 38,46,153 shares.