iStreet Network Completes Warrant Conversion, Allots 2 Lakh Equity Shares
iStreet Network Ltd has completed the allotment of equity shares following the conversion of warrants, increasing its paid-up capital base. The Board of Directors approved the conversion of 200,000 warrants into an equal number of equity shares with a face value of ₹ 4 each.
The transaction was completed for cash, resulting in the company receiving ₹ 9,00,000 upon receipt of the exercise price. This payment represents 75% of the warrant issue price.
The details of the allotment and associated payments are summarized below:
| Allottee Name | Category | No. Warrants Applied For | No. Equity Shares Allotted | Amount Received (₹) |
|---|---|---|---|---|
| Rajesh A. Shukla | Public | 2,00,000 | 2,00,000 | 9,00,000 |
| Total | Total | 2,00,000 | 2,00,000 | 9,00,000 |
The new equity shares are granted parity in all respects with the company's existing equity shares, including dividend.
Capital Structure Update
Following the conversion and allotment of these equity shares, the paid-up equity share capital of iStreet Network Ltd has increased. The capital rose from ₹ 28,20,00,012 to ₹ 28,28,00,012.The issuance details for the preferential allotment include:
| Particulars | Details |
|---|---|
| Securities Issued | Equity Shares pursuant to conversion of warrants. |
| Type of Issuance | Preferential allotment on a private placement basis. |
| Issue/Allotted Price | ₹ 4.5 per warrant (75% of the issue price), aggregating to ₹ 9,00,000. |
| Post Allotment Capital | Increased from ₹ 28,20,00,012 to ₹ 28,28,00,012. |
Stock Price Movement
iStreet Network Ltd shares closed at ₹48.49 after the close of trade today, ticking up 1.98%. The stock saw movement throughout the session, trading within an intraday range defined by a low of ₹47.00 and a high of ₹48.99.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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