Rama Petrochemicals Limited's board approved the conversion of 20,99,750 warrants into equity shares for two promoter group entities.
The conversion was executed at ₹7.5 per warrant, resulting in a total inflow of ₹1.57 crore for the company.
This allotment increased the company's paid-up equity share capital from ₹13.32 crore to ₹15.42 crore.
The newly allotted shares will rank pari-passu with the company's existing equity shares.