South West Pinnacle Exploration Limited Allots 2.82 Million Equity Shares Following Warrant Conversion
South West Pinnacle Exploration Limited has completed the allotment of equity shares subsequent to the conversion of warrants, resulting in a significant increase in its paid-up capital. The company approved the issuance of 2,821,411 fully paid-up equity shares, which were purchased at a price of Rs. 132.20 per share.The transaction, finalized following the Board meeting held on July 10, 2026, saw the company receive aggregate consideration of Rs. 279,742,900 from allottees who exercised their right to convert warrants into equity shares. This amount represents the balance consideration, which was set at 75% of the issue price per warrant.
The allotment was based on the conversion of 2,821,411 warrants previously issued in a preferential manner by the company on February 21, 2025. Each warrant is convertible into one equity share with a face value of Re. 10/-.
Capitalization Update
The successful completion of this conversion and allotment has resulted in the paid-up Equity Share Capital of South West Pinnacle Exploration Limited being increased to Rs. 32,65,14,220. This capital consists of 3,26,51,422 fully paid-up equity shares, all ranking pari-passu with existing equity shares of the company.The issuance of warrants was initially targeted at up to 28,36,611 convertible warrants and involved both promoter and non-promoter investors. The conversion process adheres to a pre-set timeframe of 18 months from the warrant allotment date.
Post-Conversion Shareholding Snapshot
The equity shareholding pattern of the company reflects the completion of this transaction. Pre-conversion, the total capital stood at 2,98,30,011 shares. Following the conversion, the total number of shares stands at 3,26,51,422.The shareholder composition post-conversion is detailed below:
| Shareholding Category | Pre-Conversion Shares | Post-Conversion Shares |
|---|---|---|
| Promoters and Promoter Group | 1,92,61,312 | 2,15,30,600 |
| Public | 1,05,68,699 | 1,11,20,822 |
| Total | 2,98,30,011 | 3,26,51,422 |
The figures show a slight increase in the promoter holding percentage to 65.94%, compared to 64.57% pre-conversion. Conversely, the public shareholding decreased slightly to 34.06% from 35.43%.
SOUTHWEST Stock Price Movement
Shares of South West Pinnacle Exploration Limited are edging higher to ₹230.85 as of 12:06 PM today, having climbed 0.34% in live trading. The stock has experienced brisk movement with a reported volume of 59,067 shares exchanged on the market.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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