NewsCorporate ActionsLe Lavoir Limited Allots 3.15 Lakh Convertible Warrants to Non-Promoters at Rs 264.75 EachLe Lavoir Limited Allots 3.15 Lakh Convertible Warrants to Non-Promoters at Rs 264.75 Each
Le Lavoir, listed on BSE, has approved and allotted 3,15,090 convertible warrants to non-promoter entities at Rs 264.75 per warrant. Each warrant is convertible into one equity share within 18 months. The warrants were allotted to 10 individual and entity recipients. This allotment, along with a previous one, could increase Le Lavoir's paid-up share capital from Rs 3.24 crore to Rs 4.82 crore, and equity shares from 32,40,000 to 48,21,090 post-conversion. The total consideration at 25% of the issue price amounts to Rs 2,08,55,019.38.
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Le Lavoir , a company listed on the BSE, has made a significant move in its capital structure by approving and allotting convertible warrants to non-promoter entities. This decision, taken by the company's Board of Directors, marks a potential expansion of the company's equity base and brings in fresh capital.
Key Details of the Allotment
- Number of Warrants: 3,15,090
- Issue Price: Rs 264.75 per warrant
- Conversion Ratio: Each warrant is convertible into one equity share
- Face Value of Resulting Shares: Rs 10 per share
- Conversion Period: Within 18 months from the date of allotment
- Category of Allottees: Non-promoter entities
Allotment Breakdown
The warrants have been allotted to 10 individual and entity recipients. Here's a breakdown of the allotment:
| Allottee Name | Number of Warrants | 25% Consideration (Rs) |
|---|---|---|
| Rekha Bhagat | 112,000 | 74,13,000.00 |
| Sonali Abhaykumar Parmar | 60,000 | 39,71,250.00 |
| Nightingale Growth | 51,000 | 33,75,562.50 |
| Preetham B H | 24,000 | 15,88,500.00 |
| Megha S R | 15,090 | 9,98,769.38 |
| Raghunandan Bangalore Ramachandra | 15,000 | 9,92,812.50 |
| Laxmi Bhupesh Bhond | 15,000 | 9,92,812.50 |
| Samar Shahaji Ransing | 9,000 | 5,95,687.50 |
| Kiran Pravin Rai | 9,000 | 5,95,687.50 |
| Niranjan Gundila Malli | 5,000 | 3,30,937.50 |
Impact on Share Capital
This allotment, combined with a previous allotment of 12,66,000 warrants, could significantly impact Le Lavoir's share capital structure:
- Current Paid-up Share Capital: Rs 3.24 crore
- Current Number of Equity Shares: 32,40,000
- Potential Paid-up Share Capital Post-Conversion: Rs 4.82 crore
- Potential Number of Equity Shares Post-Conversion: 48,21,090
Financial Implications
- The total consideration for this allotment at 25% of the issue price amounts to Rs 2,08,55,019.38
- Warrant holders are required to pay 75% of the issue price before exercising their conversion rights
Regulatory Compliance
The allotment has been made in accordance with the provisions of Chapter V of SEBI (ICDR) Regulations, 2018, ensuring compliance with regulatory requirements for preferential issues.
This move by Le Lavoir potentially signals the company's strategy for growth and expansion. The influx of capital through this preferential allotment could provide the company with additional funds for its business operations or future projects. However, the full impact of this decision will only be realized once the warrants are converted into equity shares within the stipulated 18-month period.
Historical Stock Returns for Le Lavoir
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.44% | -0.36% | -2.60% | -17.61% | +21.32% | +1,112.16% |
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