Gemstone Investments Converts 32,880,000 Warrants into Equity Shares
Gemstone Investments Ltd announced that its Board of Directors approved the conversion of 3,28,80,000 Convertible Warrants into an equal number of Equity Shares on June 29, 2026.The company's Board held a meeting on Monday, June 29, 2026, during which it ratified the conversion transaction. Under this approval, 3,28,80,000 Convertible Warrants were converted into 3,28,80,000 Equity Shares of the company.
The shares were allotted to non-promoters. Each warrant was converted into one equity share, which had a face value of ₹1/- and a conversion price of ₹2.50/- per equity share upon receipt of the full subscription amount.
Details regarding the allotment and the involved investors are as follows:
| Particulars | Details |
|---|---|
| Type of security proposed to be issued | Equity Shares of face value ₹ 1/- each upon exercise of option of conversion of warrants. |
| Type of issuance | Preferential Allotment by conversion of Convertible Warrants into Equity. |
| Name of the Investors | Chintan Hemantbhai Patel, Sejal Chintan Patel, Shyamalkumar Hemantbhai Patel, and Falguni Ajay Shah. |
| Post allotment Outcome | Allotment of 3,28,80,000 Equity shares of face value ₹ 1/- each fully paid up at a premium of ₹ 1.50/-, aggregating to ₹ 6,16,50,000/-. |
The transaction involved the exercise of 3,28,80,000 convertible warrants by the investors into fully paid-up equity shares of ₹1/- each.
Specific details concerning the allottees and warrant conversion are provided below:
| Sr. No. | Name of Allottee | Warrants Applied For Conversion | Amount Received (in ₹) | Equity Shares Allotted |
|---|---|---|---|---|
| 1. | Chintan Hemantbhai Patel | 50,00,000 | 93,75,000 | 50,00,000 |
| 2. | Sejal Chintan Patel | 50,00,000 | 93,75,000 | 50,00,000 |
| 3. | Shyamalkumar Hemantbhai Patel | 30,00,000 | 56,25,000 | 30,00,000 |
| 4. | Falguni Ajay Shah | 1,98,80,000 | 3,72,75,000 | 1,98,80,000 |
The board meeting for the conversion was held at the registered office of Gemstone Investments Ltd. and commenced at 04:00 P.M., concluding at 04:30 P.M.
Stock Price Movement
Gemstone Investments Ltd closed on Monday, settling at ₹1.60, having dipped 0.62%. Throughout the trading session, the shares moved within a defined range, hitting a low of ₹1.58 and reaching an intraday 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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