Corporate Action4 Jun 2026, 11:28 am
Gemstone Investments Converts Warrants to 3.18 Cr Equity Shares
AI Summary
Gemstone Investments Ltd announced the conversion of 3,18,00,000 convertible warrants into equity shares through a preferential issue. The Board of Directors approved this conversion at their meeting on June 4, 2026. Each warrant was converted into one equity share of face value ₹1 at a price of ₹2.50 per share, totaling ₹5,96,25,000. The shares were allotted to non-promoters, Mitesh Chandrakant Shah and Rashmi Kantilal Gada. This move is in compliance with SEBI ICDR Regulations and the Companies Act, 2013.
Key Highlights
- 3.18 crore warrants converted into equity shares.
- Conversion price set at ₹2.50 per share.
- Total issue value amounts to ₹5,96,25,000.
- Shares allotted to non-promoter investors.
- Transaction complies with SEBI and Companies Act regulations.
Price Impact
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