Nature of the Event
Disclosure of conversion of convertible warrants into equity shares and subsequent allotment, made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Quantitative Figures
- Number of Warrants Converted: 753,334
- Number of Equity Shares Allotted: 753,334
- Issue Price per Share: ₹20 (₹10 face value + ₹10 premium)
- Total Consideration Received: ₹1,13,00,010 (One Crore Thirteen Lakhs Ten Rupees Only)
- Post-Allotment Paid-Up Capital: ₹14,48,39,290 (Fourteen Crores Forty-Eight Lakhs Thirty-Nine Thousand Two Hundred Ninety Rupees Only)
- Post-Allotment Total Shares: 1,44,83,929 Equity Shares of ₹10 each
- Outstanding Warrants: 7,80,001 fully convertible warrants remain for future conversion
Dates of Action
- Date of Original Warrant Allotment: March 20, 2025
- Date of Conversion Request: Disclosed as received (exact date not specified)
- Date of Board Approval: July 30, 2026
- Board Meeting Timing: Commenced at 3:30 PM, concluded at 4:00 PM
Parties Involved
- Issuer Company: Venmax Drugs and Pharmaceuticals Limited
- Allottee: Dinesh Muddu Kotian (Non-Promoter category)
- Approving Authority: Board of Directors of Venmax Drugs and Pharmaceuticals Limited
Capital Structure Impact
- Pre-Issue Holding of Allottee: 666,666 shares
- Post-Issue Holding of Allottee: 1,420,000 shares
- Dilution Impact: The allotment represents approximately 5.2% of the post-issue paid-up capital of 14,483,929 shares.
Cash Flow Implications
- Cash Inflow: ₹1,13,00,010 received as the balance 75% of the warrant exercise price (₹15 per warrant).
Additional Information
- The disclosure is also available on the company's website at www.venmaxdrugs.com.
- The transaction was conducted on a preferential allotment, private placement basis.
- Conversion ratio was 1:1 (one equity share for every warrant exercised).
#Tags: #VenmaxDrugs #WarrantConversion #SEBIRegulation30 #CapitalRaising #Neutral