Telogica Limited , a technology and telecom company, has successfully raised Rs 3.76 crore through the conversion of convertible warrants into equity shares. The company's Board of Directors approved the conversion of 47,00,000 warrants at Rs 8 per share, marking a significant corporate action that impacts its shareholding structure.

Key Details of the Warrant Conversion

Investor Breakdown

The conversion involves three key investors:

Impact on Share Capital

Following this allotment, Telogica Limited's paid-up equity share capital will see a notable increase:

• Pre-conversion: Rs 26.23 crore (5.24 crore shares)
• Post-conversion: Rs 28.58 crore (5.71 crore shares)

Warrant History and Future Conversions

The warrants were originally allotted in May 2024 with an 18-month conversion period. A significant number of warrants remain unconverted:

• Devineni Venkateswara Rao: 25,00,000 warrants pending
• Mandava Srinivasa Rao: 24,20,910 warrants pending

These warrant holders have the option to convert their remaining warrants into equity shares by paying the balance amount within the stipulated 18-month period from the date of allotment.

Regulatory Compliance

The newly allotted shares will be subject to lock-in provisions as per SEBI regulations and will rank equally with existing equity shares. Telogica Limited will be applying for listing and trading approval for these shares with the stock exchange and initiating necessary corporate actions with the depositories.

This warrant conversion represents a strategic move by Telogica Limited, potentially strengthening its capital base and altering its ownership structure.

Telogica Limited has announced a significant corporate action involving the conversion of convertible warrants into equity shares. The Board of Directors has approved the conversion of 46,40,290 warrants into an equal number of equity shares, marking a notable change in the company's capital structure.

Key Details of the Conversion

The conversion of warrants into equity shares has been executed at a price of Rs. 8.00 per share, which includes a premium of Rs. 3.00 per share. This move has resulted in the company receiving Rs. 3.71 crore from the warrant holders. The allotment involves three key entities:

Impact on Share Capital

Following this allotment, Telogica's paid-up equity share capital will see a significant increase:

• Pre-conversion: 4,78,35,786 equity shares of Rs. 5.00 each, amounting to Rs. 23,91,78,930.00
• Post-conversion: 5,24,76,076 equity shares of Rs. 5.00 each, amounting to Rs. 26,23,80,380.00

This represents an increase of approximately 9.7% in the number of outstanding shares.

Shareholding Changes

The conversion has led to notable changes in the shareholding pattern of the company:

Additional Information

• The newly allotted equity shares will rank pari-passu with the existing equity shares of the company.
• The company will apply for listing and trading approval for these shares with the stock exchange.
• The allotted shares will be under lock-in as per SEBI ICDR Regulations.
• Warrant holders have 18 months from the date of allotment of warrants (May 11, 2024) to convert their remaining warrants by paying the balance amount.

This corporate action demonstrates Telogica's efforts to strengthen its capital base and potentially fund its growth initiatives. Investors and market participants will be keen to observe how this capital infusion impacts the company's future operations and financial performance.