Nature and Purpose of the Meeting
The Share Allotment Committee of Lokesh Machines Limited met to approve the conversion of warrants into equity shares and the allotment thereof, as part of the preferential issue process.
Details of Resolutions Passed
- Allotted 500,000 equity shares of face value Rs. 10 each to Ashok Atluri (Non-Promoter) upon conversion of an equal number of warrants.
- Issue price per share is Rs. 181.71, consisting of face value Rs. 10 and premium Rs. 171.71.
- The amount received as warrant exercise price is Rs. 6,81,41,250 (75% of the total issue price of Rs. 181.71 per warrant).
- No warrants are pending for conversion after this allotment for Ashok Atluri.
Financial Impact
- The issued, subscribed, and paid-up equity share capital increased to Rs. 21,79,67,700, consisting of 2,17,96,770 fully paid-up equity shares of Rs. 10 each.
- The new equity shares rank pari-passu with the existing equity shares of the company.
Timing of the Meeting
The meeting commenced at 11:00 A.M. IST and concluded at 11:35 A.M. IST on July 11, 2026.
Compliance References
- The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Includes disclosure as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
Other Material Disclosure
- The warrants were originally allotted on May 06, 2026, on a preferential basis to 9 allottees, with Ashok Atluri holding 500,000 warrants prior to conversion.
- The warrant subscription price was Rs. 45.4275 per warrant (25% of the issue price), and the exercise price is Rs. 136.2825 per warrant (75% of the issue price).
- Use of proceeds from the warrant conversion is not mentioned in the document.