- Integrity Infrabuild Developers Limited (NSE: INTEGRITY) board approved conversion of 2,60,000 warrants into 2,60,000 equity shares at Rs 108 per share (including a Rs 98 premium), receiving a Rs 2,10,60,000 balance (75% of issue price) and bringing total subscription money to Rs 2,80,80,000.
- Paid‑up equity capital rose from Rs 4,40,00,000 (44 lakh shares) to Rs 4,66,00,000 (46.6 lakh shares), a ~5.56% increase in the number of shares outstanding.
- Shares were preferentially allotted to Venkateshwara Industrial Promotion Co. Ltd – 90,000 shares (Rs 72,90,000) and Shrey Global Consultants LLP – 1,70,000 shares (Rs 1,37,70,000).
- 8,10,000 warrants remain outstanding and can be exercised within the next 18 months, posing additional dilution risk.
- The conversion complies with SEBI (ICDR) Regulations, 2018, Regulation 30 of SEBI (LODR) 2015, and has NSE in‑principle approval (Letter No: NSE/LIST/52118).
The warrant conversion adds cash and strengthens the balance sheet, but the modest dilution may keep the stock largely unchanged. Expect a slight upside in the near term with limited longer‑term impact.
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Forecast from comparable, historic events. Not investment advice.
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