TeleCanor Global Limited , a company listed on the BSE, has announced a significant corporate action involving the conversion of equity warrants into shares. The Board of Directors approved this move in a recent meeting, marking a notable development for the company's capital structure.

Key Details of the Allotment

Warrant Conversion Beneficiaries

The equity shares were allotted to two individuals upon the conversion of their warrants:

1. Mr. Hemant Kumar Gupta
2. Ms. Sharon Gupta

Overall Warrant Conversion Status

This corporate action represents a partial conversion of the originally issued warrants, with less than half of the total warrants converted so far. The conversion of these warrants into equity shares may impact the company's shareholding structure and equity base.

It's important to note that the company received the balance 75% consideration (Rs. 7.50 per warrant) for this conversion, completing the full payment for the issued shares at Rs. 10 each.

Investors and market participants may want to monitor future warrant conversions, as they could potentially alter the company's capital structure and impact stock liquidity and ownership patterns.

TeleCanor Global Limited, a Hyderabad-based company, has announced significant corporate actions and financial results in its recent board meeting.

Warrant Allotment to Promoter

The board of directors has approved the allotment of 38,00,000 fully convertible equity share warrants to the company's promoter, Ms. Vijay Lakshmi Praturi. The warrants, priced at Rs. 10.00 each, are part of a preferential issue.

Key details of the warrant allotment:

The company has received Rs. 95,00,000 as the initial 25% consideration for the warrants. Each warrant is convertible into one equity share of face value Rs. 10.00, exercisable within 18 months from the date of allotment.

Financial Performance

TeleCanor Global reported its financial results for the quarter ended September 30:

• Net Loss: Rs. 58.40 lakhs
• Previous Year Quarter: Profit of Rs. 76.56 lakhs

The company has experienced a shift from profit to loss compared to the same quarter in the previous year.

Board Meeting Details

The board meeting, originally scheduled for November 21, was preponed to November 18. The meeting commenced at 4:00 PM and concluded at 4:30 PM. During this meeting, the board approved:

1. Unaudited financial results for the quarter and half-year ended September 30.
2. Allotment of convertible equity warrants to the promoter.

Trading Window Closure

The company has informed that the trading window for dealing in its securities has been closed from October 01, and will remain closed until November 20 (both days inclusive).

Investors and stakeholders are advised to take note of these developments, particularly the shift in financial performance and the potential impact of the warrant allotment on the company's capital structure.