Sharp Chucks & Machines (#SCML) Board has approved the allotment of 24.12 lakh new equity shares.

This action follows the conversion of warrants, with warrant holders paying the remaining 75% of the issue price, which was Rs 76.12 per share. **Impact for Investors:** 📈 The company's paid-up equity share capital now stands at Rs 14.50 Cr, consisting of 1.45 Cr shares (face value Rs 10 each). 💰 This conversion brings in fresh capital for the company from the warrant exercise. 💡 The issuance of new shares leads to an increase in the total share count, implying potential dilution for existing shareholders.

Notably, Promoter Ajay Sikka received a significant portion, 13.75 lakh shares, from this allotment.

The original warrants had an 18-month tenure for conversion, with 25% of the issue price paid upfront and the remaining 75% upon exercise. #StockMarket #EquityNews