Leading Leasing Finance Converts 1 Crore Warrants to Equity Shares Worth Rs 5.55 Crore

Leading Leasing Finance and Investment Company Limited (LLFICL) has announced the conversion of convertible warrants into equity shares. The company converted 1,00,00,000 convertible warrants into an equal number of equity shares upon receiving Rs 5.55 crore from warrant holders at Rs 5.55 per warrant.

Warrant Conversion Details

The conversion has resulted in an increase in the company's paid-up equity share capital, which now stands at Rs 56,35,65,500. This consists of 56,35,65,500 fully paid-up equity shares of Rs 1 each.

It's worth noting that 50,00,000 warrants are still pending conversion.

Impact on Share Capital

The warrant conversion has significantly impacted LLFICL's share capital structure. The increase in the number of equity shares reflects the company's efforts to strengthen its capital base.

Financial Implications

The conversion of warrants has brought in additional capital of Rs 5.55 crore to the company. This infusion of funds could potentially be used for various corporate purposes, which may include expansion, debt reduction, or investment in new projects.

Investors and stakeholders will likely be watching closely to see how the company utilizes this capital infusion and what impact it may have on the company's financial performance in the future.