Himadri Speciality Chemical Limited has taken a significant step in its capital restructuring process, demonstrating compliance with regulatory requirements for warrant conversions. The company has allotted 24,000 equity shares of face value Re. 1 each upon conversion of warrants by two warrant holders.

Warrant Conversion Details

The company received Rs. 56.88 lakh at the rate of Rs. 237.00 per warrant as the warrant exercise price. The warrants were originally allotted on preferential basis at an issue price of Rs. 316.00 per warrant. The allottees are:

• Vikash Bajaj (14,000 shares)
• Dr. Soumen Chakraborty (10,000 shares)

Impact on Share Capital

Following this allotment, the company's paid-up share capital has increased to Rs. 50.45 crore, consisting of 50,45,18,950 equity shares. The newly allotted equity shares rank pari-passu with existing equity shares of the company.

Financial Implications

The conversion process involved a two-step payment mechanism:

1. Initial Payment: 25% of the issue price was paid upfront at the time of warrant issuance.
2. Balance Payment: The remaining 75% (Rs. 237.00 per warrant) was received upon conversion.

Market Implications

This warrant conversion may indicate:

1. Investor confidence in the company's future prospects
2. Successful execution of the company's capital raising strategy
3. Potential for increased liquidity in the stock

Investors and market analysts may monitor how Himadri Speciality Chemical utilizes the additional capital and its impact on future growth strategies.

Himadri Speciality Chemical Limited has successfully raised ₹237.41 crore through the conversion of warrants into equity shares, marking a significant corporate action for the company. The move has resulted in an increase in the company's paid-up share capital and brought in substantial funds.

Key Details of the Warrant Conversion

Allotment Breakdown

Impact on Share Capital

Following this allotment, Himadri Specialty Chemical's paid-up share capital has increased to ₹50.45 crore, comprising 50,44,94,950 equity shares. This represents a significant expansion of the company's equity base.

Background of the Warrant Issue

The warrants were originally allotted on May 14, 2024, at an issue price of ₹316 each to 28 allottees. The current conversion represents a partial exercise of these warrants, with three warrant holders opting to convert their holdings into equity shares.

Equity Structure and Rights

The newly allotted equity shares will rank pari-passu with the existing equity shares of the company, ensuring equal rights for all shareholders. This move aligns with the company's capital restructuring efforts and potentially strengthens its financial position.

The allotment of these shares through warrant conversion demonstrates investor confidence in Himadri Specialty Chemical and provides the company with additional capital for its operations and growth initiatives.