Telogica Limited has announced a corporate action involving the conversion of convertible warrants into equity shares, reshaping its ownership structure and increasing its paid-up equity share capital.

Warrant Conversion Details

Telogica Limited's Board of Directors has approved the conversion of 81,46,956 convertible warrants into equity shares. The key details of this conversion are as follows:

• Issue price: Rs 8.00 per share (including a premium of Rs 3.00 per share)
• Total funds raised: Rs 6.51 crores
• Number of allottees: 3

Allotment Breakdown

The warrants were converted by three key investors:

Impact on Share Capital

Following this allotment, Telogica's paid-up equity share capital has undergone changes:

• Previous share capital: 5.72 crore shares
• New share capital: 6.53 crore shares
• Total value: Rs 32.66 crores

Post-Conversion Shareholdings

The warrant conversion has resulted in changes to the shareholding percentages of the involved parties:

Background on Warrant Allotment

The warrants were originally allotted in May 2024, with warrant holders given an 18-month window to convert them by paying the remaining balance.

Implications

This warrant conversion represents a significant corporate action for Telogica Limited, potentially impacting the company's governance and strategic direction. The increase in equity share capital may provide the company with additional resources, while the changes in ownership percentages could influence future decision-making processes.

Investors and market watchers should note that all converted equity shares rank equally with existing company shares, maintaining a level playing field for all shareholders.

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.