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Inox Green Allots 1.98 Crore Equity Shares; Forfeits 76.96 Lakh Warrants
Inox Green Energy Services has allotted 1,98,90,000 equity shares following the conversion of warrants at an issue price of Rs. 145 per share. The company received the balance 75% payment for these shares, while 76,96,206 warrants were cancelled due to non-exercise of conversion rights. Consequently, the 25% upfront payment previously received for the cancelled warrants has been forfeited by the company. The total paid-up share capital has increased to Rs. 401.49 crore, and no convertible warrants remain outstanding.
Key Highlights
Allotment of 1,98,90,000 equity shares at a conversion price of Rs. 145 per share
Forfeiture of 25% upfront payment on 76,96,206 warrants that were not converted
Paid-up share capital increased from Rs. 381.60 crore to Rs. 401.49 crore
Zero outstanding convertible warrants remaining in the company post-allotment
The issue price of Rs. 145 includes a premium of Rs. 135 per equity share
💼 Action for Investors
Investors should monitor the impact of equity dilution on earnings per share. The forfeiture of nearly 77 lakh warrants suggests some investors found the conversion unattractive at the Rs. 145 price point relative to current market conditions.