Black Box Limited announced the allotment of 51,09,612 Equity Shares following the exercise and conversion of warrants by 25 allottees. The shares were issued at an issue price of Rs. 417/- each (including a premium of Rs. 415/-). This conversion led to an increase in the company’s paid-up capital to Rs. 35.24 crore. Post-allotment, the total issued capital stands at 17,62,47,008 Equity Shares.
Warrant Conversion Confirmation
Black Box Limited has formally approved the allotment of 51,09,612 Equity Shares of face value Rs. 2/- each pursuant to the conversion of warrants. This action follows the receipt of the balance consideration, constituting 75% of the issue price, from warrant holders who opted to exercise their conversion rights. The initial allotment of these warrants occurred on September 27, 2024.
Key Allotment Details
The allotment price for the Equity Shares was Rs. 417/- per share, which incorporates a significant premium of Rs. 415/- per share. The total balance consideration received for this conversion amounted to Rs. 1,59,80,31,153.00. The conversion involved 5 allottee categories, with Essar Telecom Limited (Promoter category) acquiring the largest portion of 47,96,163 shares.
Impact on Capital Structure
This issuance directly results in an increase in the issued, subscribed, and paid-up capital of the Company. Prior to this allotment, the paid-up capital stood at Rs. 34,22,74,792/- (based on 17,11,37,396 shares). Following the allotment of 51,09,612 new shares, the capital now aggregates to Rs. 35,24,94,016/- (based on 17,62,47,008 shares).
The newly allotted shares will rank pari passu with the existing Equity Shares of the Company. As of the date of this disclosure, 12,48,247 warrants remain outstanding and unexercised.
Shareholding Changes Post-Allotment
The conversion resulted in notable shifts in the shareholding pattern for the key allottees:
- Essar Telecom Limited (Promoter) increased its holding from 70.06% to 70.50%.
- Deepak Kumar Bansal (Non-Promoter, KMP) increased from 0.27% to 0.33%.
The total number of investors involved in this specific conversion was 5 (Five).
Source: BSE
