Baid Finserv Allots 72,04,099 Equity Shares Following Convertible Warrants Conversion
Baid Finserv Limited has completed the allotment of 72,04,099 equity shares, following the conversion of convertible warrants. The allotment, approved by the Board of Directors, increased the company's issued and paid-up capital.The allotment involved the conversion of 72,04,099 convertible warrants into equity shares. These shares, which have a face value of Rs. 2/- each, were allotted at a premium of Rs. 13.10/- per share. The transaction was executed after the receipt of the balance subscription amount, which was Rs. 11.325/- per warrant (representing 75% of the warrant issue price).
The capital structure of Baid Finserv Limited is updated as a result of the allotment:
| Particulars | Before Allotment | After Allotment |
|---|---|---|
| Issued Capital (Number of Shares) | 15,48,88,107 | 16,20,92,206 |
| Issued Capital (Value in INR) | 30,97,76,214 | 32,41,84,412 |
| Subscribed and Paid-up Capital (Number of Shares) | 15,48,88,107 | 16,20,92,206 |
| Subscribed and Paid-up Capital (Value in INR) | 30,97,76,214 | 32,41,84,412 |
The promoter group’s shareholding saw a positive increase following the transaction. The pre-allotment promoter holding stood at 47.39%, while the post-allotment promoter group shareholding increased to 49.73%.
Details regarding the allotment and the involved allottees are provided below:
| Promoter/Allottee Name | Category | Warrants Allotted | Shares Allotted |
|---|---|---|---|
| Dalima Baid | Promoter Group | 18,01,025 | 18,01,025 |
| Aditya Baid | Promoter Group | 12,00,683 | 12,00,683 |
| Asmita Baid | Promoter Group | 18,01,025 | 18,01,025 |
| Alpana Baid | Promoter Group | 24,01,366 | 24,01,366 |
| Total | 72,04,099 | 72,04,099 |
The allotment was made to four Promoter Group members. The total amount received for the conversion of these warrants was Rs. 8,15,86,421/-.
All the warrants held by the mentioned allottees have now been fully converted, and no warrants remain outstanding for conversion in their names. The newly allotted equity shares are pari-passu with all existing equity shares of the company.
BAIDFIN Stock Price Movement
Shares of Baid Finserv Limited are edging higher to ₹9.73 as of 12:54 PM today, rising 0.31% in live trading. The stock has seen a total traded volume of 19,875 shares during the market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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