Sammaan Capital has announced the successful allotment of 56,82,75,11,520 equity shares following the exercise of warrants by certain investors. This allotment, aggregating to ₹56.82 crore, increases the company’s paid-up equity capital. Additionally, the Board approved the issuance of Tranche II Warrants, further expanding the potential equity base upon future exercise. This move significantly alters the capital structure ahead of new expansion phases.
Allotment Following Warrant Exercise
Sammaan Capital Limited has announced the allotment of a significant number of equity shares following the exercise of warrants. A total of 56,82,75,11,520 (Fifty-six thousand eight hundred twenty-seven crore, fifty-one lakh, eleven thousand five hundred twenty) equity shares were allotted at an exercise price of ₹1 per share.
The aggregate amount raised from the exercise of these warrants is ₹56,82,75,11,520 (Rupees Five Thousand Six Hundred Eighty-Two Crore Seventy-Five Lakh Eleven Thousand Five Hundred Twenty and Twenty-Five Paise only). This substantial allotment is being treated as an allotment pursuant to the exercise of Tranche I Warrants.
Impact on Paid-Up Equity Capital
Consequent to this allotment, the paid-up Equity Share Capital of the Company has increased to ₹231,93,60,168.71, divided into 1,15,86,70,658 fully paid-up equity shares having a face value of ₹2 each.
Furthermore, the company confirmed the allotment of 30,13,213 fully paid-up equity shares having a face value of ₹2 each pursuant to the exercise of Tranche I Warrants relating to certain non-institutional investors.
Issuance of Tranche II Warrants
The Board also approved the terms for the future issuance of warrants:
- Tranche I Warrants: The right to subscribe to one crore ninety-seven lakh ninety-two thousand nine hundred and sixty-six warrants, each carrying a right to subscribe to one fully paid-up Equity Share, at a price of ₹139 per warrant.
- Tranche II Warrants: The right to subscribe to one crore ninety-seven lakh ninety-two thousand nine hundred and sixty-six warrants, each carrying a right to subscribe to one fully paid-up Equity Share, at a price of ₹139 per warrant.
- Tranche III Warrants: The right to subscribe to twenty-one crore ninety-seven lakh ninety-two thousand nine hundred and sixty-nine warrants, each carrying a right to subscribe to one fully paid-up Equity Share, at a price of ₹139 per warrant.
The allottees under the third set of warrants (Tranche III) will have 18 months from the date of allotment to exercise their rights, after which the warrants will lapse.
Investor Relations and Compliance
The meeting for the Securities Issuance and Investment Committee concluded at 10:00 A.M. on the date of the announcement. The Investor will acquire control over the Company in accordance with the Share Subscription Agreement and will be classified as a promoter of the Company.
Source: BSE
