Plutus Wealth Management LLP has increased its stake in Choice International Limited by converting warrants into equity shares. This acquisition has resulted in Plutus Wealth holding more than 2% of the total voting rights. The conversion involves over 73 lakh warrants into equity shares, influencing the overall shareholding pattern of Choice International.
Stake Acquisition Through Warrant Conversion
Plutus Wealth Management LLP has acquired additional equity shares of Choice International Limited through the conversion of warrants. This conversion resulted in Plutus Wealth holding more than 2% of the total voting rights in Choice International.
Details of the Acquisition
Before this acquisition, Plutus Wealth held 60,00,000 shares carrying voting rights (2.79% of total share/voting capital) and 140,00,000 warrants. As a result of converting warrants, they acquired 73,33,333 shares. Post-acquisition, Plutus Wealth holds 1,39,33,333 shares carrying voting rights, representing 6.49% of the total share/voting capital.
Impact on Share Capital
The equity share capital of Choice International before the acquisition was Rs. 2,05,65,55,000, divided into 20,56,55,500 shares. After the acquisition, the equity share capital increased to Rs. 2,14,78,88,330, comprising 21,47,88,833 shares.
Source: BSE
