Jet Solar Limited has announced a board meeting approving the conversion of 5,56,000 warrants into an equal number of equity shares at Rs. 21 each (including Rs. 11 premium) on a preferential basis.

The amount received totals Rs. 87.57 lakh, representing 75% payment for the issue price.

Post conversion, the company’s paid-up equity share capital increased to Rs. 11.88 Cr, comprising 1.18 crore shares of Rs. 10 each.

Shares were allotted to non-promoter Sangita Pravinkumar Tundiya.

All warrants have been converted, with none pending.

This capital raise strengthens equity and broadens the shareholder base.