Kody Technolab Completes Equity Share Allotment Following Warrant Conversion
Kody Technolab Limited has finalized the allotment of fully paid-up equity shares resulting from the conversion of warrants. The transaction involved the issuance of 1,23,100 equity shares following the exercise of options by a non-promoter investor.The company approved the allotment subsequent to the conversion of 1,23,100 warrants (out of a total of 6,76,900 Convertible Warrants). These warrants were held by Ms. Nikhita Nishid Shah from the Non-Promoter category. The equity shares were allotted at an issue price of Rs. 975/- per share, which included a share premium of Rs. 965/- each.
The allotment was completed upon receipt of the balance amount, representing 75% of the warrant exercise price. This cash collection amounted to Rs. 9,00,16,875/- (Rupees Nine Crore Sixteen Thousand Eight Hundred Seventy-Five Only). The equity shares granted upon this conversion are pari-passu with the Company's existing equity shares.
The details regarding the allotment and the involved parties are as follows:
| Allottee Name | Category | Warrants Converted | Shares Allotted |
|---|---|---|---|
| Nikhita Nishid Shah | Non-Promoter | 1,23,100 | 1,23,100 |
The conversion increased the company's paid-up equity share capital. The capital moved from Rs. 14,29,34,600/- (comprising 1,42,93,460 equity shares of face value Rs. 10/- each) to Rs. 14,41,65,600/- (comprising 1,44,16,560 equity shares of face value Rs. 10/- each).
The transaction details are summarized in the table below:
| Detail | Value/Information |
|---|---|
| Warrants Converted | 1,23,100 (out of 6,76,900) |
| Face Value per Share | Rs. 10/- |
| Issue Price per Equity Share | Rs. 975/- |
| Amount Received for Allotment | Rs. 9,00,16,875/- |
| Allottee | Ms. Nikhita Nishid Shah (Non-Promoter) |
KODYTECH Stock Price Movement
Kody Technolab Limited shares slipped by 0.11% on Friday, concluding the session at ₹1359.30 after shedding ₹1.45 from the previous close. The stock posted a total volume of 8,600 shares throughout the trading period.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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