Ramkrishna Forgings Ltd Allots 3,35,000 Equity Shares Following Warrant Conversion by Riddhi Portfolio Private Limited
Ramkrishna Forgings Ltd announced the allotment of equity shares following the conversion of warrants held by Riddhi Portfolio Private Limited. The capital market committee approved the conversion of a balance of 3,35,000 warrants into 3,35,000 fully paid-up Equity Shares.The allotment concerns the final conversion of warrants originally allotted on preferential basis to Riddhi Portfolio Private Limited. These warrants were previously issued with a face value of Rs. 2/- each and an issue price of Rs. 2,100/-. The current conversion relates to the exercise of rights by the warrant holder.
The company received a total aggregate amount of Rs. 52,76,25,000/- in exchange for these equity shares. This amount was collected at the rate of Rs. 1,575/- per warrant, which represents 75% of the Warrant Issue Price.
The key details regarding the allotment are summarized below:
| Allottee | Warrants Applied For Conversion | Equity Shares Allotted | Amount Received (Rs.) |
|---|---|---|---|
| Riddhi Portfolio Private Limited | 3,35,000 | 3,35,000 | 52,76,25,000 |
The new equity shares allotted in this transaction will rank pari passu with the existing equity shares of the company.
Following this issue of equity shares, the Issued, Subscribed and Paid-up Equity Share Capital of Ramkrishna Forgings Ltd increased to Rs. 36,43,40,034/-. This capital consists of 18,21,70,017 fully paid-up Equity Shares, each with a face value of Rs. 2/-.
RKFORGE Stock Price Movement
Ramkrishna Forgings Limited shares closed today, gaining 1.76% as the stock settled at ₹541.80, rising on post-market trading activity. The equity traded within a range of ₹532.75 to ₹546, with 216,690 shares recorded in the volume.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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