Asian Granito India Limited — Important, 23-11-2024: General Updates

The Board of Directors has approved the conversion of 78,02,884 convertible warrants into an equal number of equity shares at an issue price of Rs. 48.15 per share. This conversion was made on a preferential basis to promoter group entities, generating a total of Rs. 28.18 Cr. Following this transaction, the company's issued share capital increases to Rs. 147.04 Cr, consisting of 14,70,45,316 fully paid-up equity shares. The newly allotted shares will rank equally with existing shares. With this action, the company has fully converted the warrants, eliminating any pending conversions. This development enhances the company's equity base, signaling a robust promoter commitment which could foster investor confidence and a positive outlook in the market.