Manaksia Coated Metals Shocks Market: 7.55 Lakh Shares Allotted Through Warrant Conversion, Boosting Paid-Up Capital to ₹9.97 Crore
By Ankur Chandra | Updated at: Jun 6, 2025 04:59 PM IST
Kolkata | June 6, 2025 – Manaksia Coated Metals & Industries Ltd (BSE: 539046, NSE: MANAKCOAT) announced on Thursday the allotment of 7,55,000 equity shares of face value Re. 1 each following the conversion of warrants previously issued on a preferential basis.
This allotment increases the company’s paid-up share capital to ₹9.96 crore, the company revealed in an exchange filing. The shares were issued at ₹65 per share, including a premium of ₹64, to two non-promoter entities: Sharda Subhashchandra Bhat and Shamina Trading L.L.C.-FZ.
The allotment is part of the final tranche payment of ₹3.68 crore, constituting 75% of the total issue price of the warrants.
Breakdown of Allotment
| Name of Allottee | Shares Allotted | Amount Received (₹) | Warrants Pending |
|---|---|---|---|
| Sharda Subhashchandra Bhat | 4,95,000 | 2,41,31,250 | 15,05,000 |
| Shamina Trading L.L.C.–FZ | 2,60,000 | 1,26,75,000 | 0 |
| Total | 7,55,000 | 3,68,06,250 | 15,05,000 |
The warrants were initially issued on January 30, 2025, with an upfront payment of ₹16.25 per warrant (25% of the issue price). The balance amount of ₹48.75 per warrant was paid by the allottees during the conversion.
Equity Capital Structure Post-Allotment
Following the allotment, the total issued and paid-up equity capital of the company has increased to:
- ₹9,96,79,050, comprising
- 9,96,79,050 equity shares of face value Re. 1 each
The newly allotted shares will rank pari-passu (on equal footing) with existing equity shares in all respects, including voting rights and dividend eligibility.
Shareholding Shift After Conversion
| Allottee | Pre-Allotment Holding | Shares Allotted | Post-Allotment Holding | % of Total Equity |
|---|---|---|---|---|
| Sharda Subhashchandra Bhat | 1,00,000 | 4,95,000 | 5,95,000 | 0.60% |
| Shamina Trading L.L.C.–FZ | 12,40,000 | 2,60,000 | 15,00,000 | 1.50% |
| Total | 13,40,000 | 7,55,000 | 20,95,000 | 2.10% |
89.55 Lakh Warrants Still Convertible
According to the filing, 89,55,000 warrants are still outstanding and eligible for conversion into equity shares within the prescribed 6-to-18-month window from the date of allotment. This is subject to payment of the remaining 75% of the issue price.
Explainer: What Is a Warrant Conversion?
A warrant is a financial tool that allows the holder to purchase shares of a company at a predetermined price within a set period. Once the holder makes full payment, the warrants are converted into equity shares, which represent ownership in the company.
Note: This is an official update based on company disclosures to the stock exchanges and follows all SEBI-mandated reporting guidelines.
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