Gemstone Investments Converts 3.18 Crores Warrants into Equity Shares in Preferential Allotment
Gemstone Investments Ltd has completed a major transaction following its Board of Directors meeting held on June 4, 2026. The company approved and executed the conversion of Convertible Warrants into equity shares, facilitating a preferential allotment to select investors.The Board approval formalized the conversion of 3,18,00,000 (Three Crores Eighteen Lacs) Convertible Warrants into an equivalent number of Equity Shares. This issuance was conducted in accordance with corporate provisions governing the issue of capital. Each warrant was converted into one equity share, each having a face value of ₹1/-.
The shares were allotted to non-promoter investors. The transaction details indicate that Mitesh Chandrakant Shah and Rashmi Kantilal Gada are among the allottees who participated in the conversion.
Conversion and Allotment Details
The transaction involved the preferential allotment by converting Convertible Warrants into Equity Shares, totaling 3,18,00,000 shares. The total amount aggregating from this allotment stood at ₹5,96,25,000/-.A detailed breakdown of the conversion and allocation to the investors is provided below:
| Allottee Name | Warrants Applied For Conversion | Equity Shares Allotted (Face Value ₹1/-) | Amount Received (₹) |
|---|---|---|---|
| Mitesh Chandrakant Shah | 1,20,00,000 | 1,20,00,000 | 2,25,00,000 |
| Rashmi Kantilal Gada | 1,98,00,000 | 1,98,00,000 | 3,71,25,000 |
The allotment was completed fully paid up at a premium of ₹1.50/-, calculated at a ratio of one equity share for every warrant exercised.
Stock Price Movement
As of 11:20, Gemstone Investments Ltd shares are ticking up by +1.83% to ₹1.67. The stock has moved across its intraday spectrum, bouncing between a low of ₹1.64 and a high of ₹1.69.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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