Choice International has allotted 58,00,000 equity shares following the conversion of warrants. This allotment, priced at INR 300 per warrant, resulted in 40,00,000 shares for Plutus Wealth Management LLP and 18,00,000 shares for Soansrishti Properties Private Limited. Post-allotment, the company’s equity share capital increased to INR 214,78,88,330, comprising 21,47,88,833 shares.
Equity Share Allotment Details
Choice International has successfully completed the allotment of equity shares, stemming from the conversion of outstanding warrants. The Securities Allotment Committee finalized the allotment based on requests from warrant holders. This follows an initial allotment of 2,31,21,000 warrants at INR 300 each, as announced earlier.
Breakdown of Allotment
The current allotment encompasses 58,00,000 equity shares, each with a face value of INR 10. The specifics are as follows:
- 40,00,000 Equity Shares to Plutus Wealth Management LLP for a consideration of INR 90 Crores.
- 18,00,000 Equity Shares to Soansrishti Properties Private Limited (formerly known as M/s. Rupang Properties Private Limited) for a consideration of INR 40.50 Crores.
Impact on Share Capital
Following this allotment, the paid-up equity share capital of Choice International has risen to INR 214,78,88,330. This is composed of 21,47,88,833 Equity Shares, each valued at INR 10.
Updated Shareholding Post-Allotment
The following changes in shareholding percentages reflect the latest allotment.
Plutus Wealth Management LLP: Increased to 1,33,33,333 shares, now holding 6.21%.
Outstanding Warrants
The remaining balance of warrants to be exercised after the current allotment stands as follows:
- Plutus Wealth Management LLP: 66,66,667
- Soansrishti Properties Private Limited: 13,21,000
All outstanding warrants must be exercised within 18 months of the original allotment date, i.e. on or before June 06, 2024.
Source: BSE