Rama Petrochemicals Ltd Allots Equity Shares Following Conversion of Third Tranche Warrants
Rama Petrochemicals Ltd announced the allotment of equity shares resulting from the conversion of a tranche of warrants. The Board of Directors approved the conversion of 20,99,750 warrants into an equal number of 20,99,750 Equity Shares of face value of ₹ 7.10 each.The conversion of these warrants was executed by the warrant holders as part of the exercise of their rights, marking a significant increase in the company's paid-up capital.
The allotment was made for cash, following the receipt of the exercise price. The payment was collected at a rate of ₹ 7.5 per share warrant, which represents 75% of the original warrant issue price of ₹ 10 per warrant. The total amount aggregated from this conversion amounted to ₹ 1,57,48,125 (Rupees One Crore Fifty Seven Lacs Forty Eight Thousand One Hundred Twenty Five Only).
The newly allotted equity shares shall rank pari-passu with all existing equity shares of the Company, including regarding any potential dividends.
The details of the allotment, pertaining to the conversion of warrants for the third tranche, show the following contribution from key allottees:
| Warrant Holder Name | Category | Warrants Applied For Conversion | Equity Shares Allotted | Amount Received (₹) |
|---|---|---|---|---|
| Rama Industries Limited | Promoter Group | 12,72,332 | 12,72,332 | 95,42,490 |
| Rainbow Agri Industries Limited | Promoter Group | 8,27,418 | 8,27,418 | 62,05,635 |
| Total | Total | 20,99,750 | 20,99,750 | 1,57,48,125 |
Following the allotment of these equity shares, the paid-up equity share capital of Rama Petrochemicals Ltd increased substantially from ₹ 13,32,06,000 (Thirteen Crore Thirty Two Lacs Six Thousand) to ₹ 15,42,03,500 (Fifteen Crore Forty Two Lacs Three Thousand and Five Hundred).
Stock Price Movement
Rama Petrochemicals Ltd shares settled at ₹15.36 on Monday, concluding the session with no change in price compared to the previous close. The equity remained completely locked at this single price point throughout the day, as both the intraday high and low were fixed at ₹15.36.Source:
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