Gemstone Investments Ltd Converts 2.98 Crore Warrants into Equity Shares
Gemstone Investments Ltd announced that its Board of Directors approved the conversion of 2,98,40,000 Convertible Warrants into an equal number of Equity Shares. The transaction took place during a board meeting held on June 08, 2026.The company's decision followed the approval of the Board and was executed in accordance with applicable regulations concerning issue of capital. The conversion resulted in the allotment of 2,98,40,000 Equity Shares to non-promoters of the company. Each warrant was converted into one equity share of face value ₹1/- at a conversion price of ₹2.50/- per equity share, upon receipt of the full subscription amount.
The resulting Equity Shares were allotted at a premium of ₹ 1.50/-, amounting to a total collection of ₹ 5,59,50,000/- for the company. The allotment was completed at a ratio of 1:1, meaning one equity share was issued for every warrant exercised.
The transaction details and outcomes 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. |
| Total number of securities to be issued (approximately) | NA |
| Post allotment outcome | Allotment of 2,98,40,000 Equity shares of face value ₹ 1/- each fully paid up at a premium of ₹ 1.50/-, aggregating to ₹ 5,59,50,000/-. |
The conversion was carried out by two investors: Urmila Shailesh Shah and Anita Agrawal. The specific details regarding the allotment are presented in the table below:
| Sr. No. | Name of Allottee | Nos. of Warrants Allotted | Nos. of Warrants applied for conversion | Amount (₹) Received being 75% of the issue price per warrant | No. of equity shares of face value of ₹ 1/- each allotted, upon conversion |
|---|---|---|---|---|---|
| 1. | Urmila Shailesh Shah | 1,98,40,000 | 1,98,40,000 | 3,72,00,000 | 1,98,40,000 |
| 2. | Anita Agrawal | 1,00,00,000 | 1,00,00,000 | 1,87,50,000 | 1,00,00,000 |
Stock Price Movement
As of 15:17, Gemstone Investments Ltd shares are ticking down after falling by 1.24% to ₹1.59. The stock has seen movement throughout the day, trading between a low of ₹1.53 and an intraday high of ₹1.65.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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