Magson Retail Allots 3,89,140 Equity Shares Following Conversion of Convertible Warrants
Magson Retail And Distribution Limited has approved the allotment of 3,89,140 Fully Paid-up Equity Shares following the conversion of Convertible Equity Warrants. The transaction, confirmed by the company's Board of Directors on August 25, 2026, involved a Promoters Group entity, United Friends Ventures LLP.The allotment pertains to the exercise of warrants that were previously issued by the company in a preferential manner. The conversion sees United Friends Ventures LLP allotting 3,89,140 equity shares.
The details of the conversion and the respective allottee are provided below:
| Name of the Allottee | Category | Number of Warrants Converted | No. of Equity Shares Allotted | Issue Price per Equity Share (INR) | Balance 75% of the Issue Price Received (INR) |
|---|---|---|---|---|---|
| United Friends Ventures LLP | Promoters Group | 3,89,140 | 3,89,140 | 93.25 | 2,72,15,478.75 |
| Total | 3,89,140 | 3,89,140 | 93.25 | 2,72,15,478.75 |
The company had previously allotted a total of 1,06,00,000 Convertible Equity Warrants. Following this conversion, a total of 3,89,140 warrants were converted. The remaining 38,72,966 warrants are currently outstanding and eligible for conversion into an equal number of Equity Shares upon payment of the remaining 75% of the issue price within 18 months from the date of warrants allotment, which was April 17, 2025.
The newly issued and allotted Equity Shares are pari-passu with the existing Equity Shares of the company.
Capital Structure Update
The allotment has resulted in an increase in the Paid-Up Equity Share Capital of the company.The financial position regarding the share capital is as follows:
| Particulars | Number of Equity Shares | Amount in Indian Rupees |
|---|---|---|
| Existing Paid-up Equity Share Capital | 1,42,49,094 | 14,24,90,940 |
| Post-Allotment Paid-up Equity Share Capital | 1,46,38,234 | 14,63,82,340 |
MAGSON Stock Price Movement
Shares of Magson Retail And Distribution Limited settled today, shedding 0.38% to close at ₹182.5. The stock traded a total of 14,000 shares during the session.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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