Mumbai, February 21, 2025 – Windsor Machines Ltd. (BSE: 522029, NSE: WINDMACHIN) has announced the conversion of 78,18,608 equity warrants into an equivalent number of fully paid-up equity shares, generating a capital inflow of ₹112.50 crore.
Key Highlights
- Conversion Details: The Board of Directors approved the allotment of 78,18,608 equity shares at an issue price of ₹191.85 per share, which includes a premium of ₹189.85 per share.
- Investor Participation: The conversion was executed by two non-promoter investors, Mr. Hitendrabhai Patel and Mr. Dharmendra Varsada.
- Capital Raised: The company received ₹143.88 per warrant (75% of the issue price) from the investors, aggregating to ₹112.50 crore.
- Updated Share Capital: The issued, subscribed, and paid-up capital now stands at ₹16.89 crore, comprising 8,44,78,318 equity shares of ₹2 each.
Investor Breakdown
| Investor Name | No. of Warrants Converted | Equity Shares Allotted | Amount Received (₹ Crore) |
|---|---|---|---|
| Mr. Hitendrabhai Patel | 58,63,956 | 58,63,956 | 84.37 |
| Mr. Dharmendra Varsada | 19,54,652 | 19,54,652 | 28.12 |
| Total | 78,18,608 | 78,18,608 | 112.50 |
Future Conversion Potential
- The company had originally issued 2,60,62,027 warrants on January 9, 2025.
- Following this conversion, 1,82,43,419 warrants remain outstanding and are eligible for conversion within 18 months.
Listing & Compliance
The newly allotted equity shares will rank pari passu with existing shares and, upon receiving listing approvals, will be listed on the BSE and NSE. The transaction aligns with Regulation 30 of the SEBI LODR and relevant SEBI Master Circulars.This strategic capital infusion strengthens Windsor Machines Ltd.'s financial position and sets the stage for potential future equity conversions, enhancing liquidity and shareholder value.