Mrugesh Trading Limited Converts 720 Million Warrants to Equity Shares
Mrugesh Trading Limited has approved the conversion of 720 million convertible warrants into an equal number of equity shares, each with a face value of Rs. 1. The company received Rs. 720 million from warrant holders, representing 75% of the issue price. Major allottees include Telikos Technology Private Limited and Shreshtha Transit Private Limited, each converting 150 million warrants. The conversion may significantly impact the company's shareholding structure and brings in fresh capital.
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Mrugesh Trading Limited , a company listed on the Bombay Stock Exchange, has announced a significant corporate action that could potentially impact its shareholding structure. The company's Board of Directors has approved the conversion of 720 million convertible warrants into an equal number of equity shares, each with a face value of Rs. 1.
Key Details of the Conversion
- Conversion Scale: 720 million convertible warrants converted to 720 million equity shares
- Face Value: Rs. 1 per equity share
- Funds Received: Rs. 720 million from warrant holders
- Conversion Rate: Rs. 1 per warrant, representing 75% of the issue price
Warrant Allocation and Conversion
The warrants were initially allotted on a preferential basis. The company has now received the remaining 75% of the issue price from the warrant holders, triggering the conversion process. The newly issued equity shares will have equal ranking with the existing shares of the company.
Major Allottees
The conversion involves several key entities. The table below details the major allottees and their respective warrant conversions:
| Allottee | Warrants Converted | Equity Shares Allotted | Amount Received (Rs.) |
|---|---|---|---|
| Telikos Technology Private Limited | 150,000,000 | 150,000,000 | 112,500,000 |
| Shreshtha Transit Private Limited | 150,000,000 | 150,000,000 | 112,500,000 |
| Atiksh Enterprise Private Limited | 100,000,000 | 100,000,000 | 75,000,000 |
| Adrank Media Private Limited | 100,000,000 | 100,000,000 | 75,000,000 |
| Shree Vallabh Energy Private Limited | 50,000,000 | 50,000,000 | 37,500,000 |
| Sivaya Transformation Private Limited | 50,000,000 | 50,000,000 | 37,500,000 |
Implications
This warrant conversion may lead to a significant change in the company's shareholding pattern. The influx of new equity shares could potentially dilute the ownership stake of existing shareholders. However, it also brings in fresh capital of Rs. 720 million, which the company could utilize for various purposes such as expansion, debt reduction, or other strategic initiatives.
Investors and market participants may want to monitor any further announcements from Mrugesh Trading Limited regarding the utilization of these funds and any potential impact on the company's financial position and future plans.
Historical Stock Returns for Mrugesh Trading
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.76% | +26.44% | +73.23% | +358.33% | +358.33% | +423.81% |
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