Swojas Foods Completes Warrant Conversion, Increasing Paid-Up Capital
Swojas Foods Ltd, formerly known as Swojas Energy Foods Limited, has completed a significant step in its capital structure by approving and executing the conversion of warrants into equity shares. This transaction resulted in an increase in the company's paid up equity share capital.The company’s Board of Directors approved the conversion of 13,32,000 warrants into 13,32,000 fully paid equity shares with a face value of ₹ 10 each. This issuance was made through preferential allotment to non-promoter entities who had exercised their rights.
The transaction involved the receipt of the remaining exercise price from warrant holders for the converted shares. The conversion process generated an inflow of ₹ 1,64,83,500.
Details of Warrant Conversion
A significant portion of the warrants were held by VICKY R JHAVERI HUF (Non-Promoter). This entity held 33,32,000 warrants and converted them for 13,32,000 shares. The total amount paid for this conversion was ₹ 1,64,83,500, corresponding to a payment of ₹ 12.375 per share.The details of the allotment are summarized below:
| Investor Name | Category | Warrants Held | Shares Allotted | Total Amount Paid (₹) |
|---|---|---|---|---|
| VICKY R JHAVERI HUF | Non-Promoter | 33,32,000 | 13,32,000 | 1,64,83,500 |
Capital Restructuring Details
The newly allotted equity shares rank pari-passu with the existing equity shares of Swojas Foods Ltd. The successful conversion has directly impacted the company's paid up capital structure.Prior to the conversion, the company’s paid up equity share capital stood at ₹ 41,31,51,500, consisting of 4,13,15,150 equity shares (Face Value: ₹ 10 each). Following the issuance and allotment of the new shares, the total paid up equity share capital increased to ₹ 42,64,71,500. This figure now accounts for 4,26,47,150 equity shares with a Face Value of ₹ 10 each.
The company has stated that an application for listing and trading approval of the newly issued and allotted Equity Shares will be made in due course of time.
Stock Price Movement
Swojas Foods Ltd is ticking up at ₹7.79 as of 11:22, having edged higher by 0.65%.The shares traded throughout the session, moving between an intraday low of ₹7.76 and a high of ₹8.50.
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