New Delhi [India], February 26: RDB Infrastructure and Power Limited has announced that its Board of Directors has approved the allotment of 56,25,000 equity shares pursuant to the conversion of an equivalent number of warrants issued on a preferential basis to a non-promoter investor. The conversion was completed after the Company received the balance consideration of ₹17.08 crore, representing 75% of the total warrant issue price of ₹40.5 per warrant, in accordance with applicable SEBI regulations.
With this allotment, the Company's issued and paid-up share capital has increased to ₹21,00,09,000, now comprising 21,00,09,000 equity shares of face value Re. 1 each. The newly issued shares rank pari passu with existing equity shares, ensuring that the investor receives identical rights, privileges, and entitlements as current shareholders.
The equity shares were allotted to a single investor, M/s Sarwamangala Capital, which exercised its right to convert the entire 56,25,000 warrants originally issued on November 27, 2024. Under the original terms, each warrant entitled the holder to subscribe to one equity share within 18 months. The issue price of ₹40.5 per warrant includes a premium of ₹39.5 per share, reflecting compliance with SEBI's pricing guidelines.
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