Marine Electricals (India) Limited has announced the allotment of 3,50,000 equity shares of face value Rs. 2 each, on a preferential basis, upon the conversion of warrants. This action follows the payment of the balance 75% consideration by the warrant holder. The specific allottee is KDU Enterprises Private Limited, a promoter of the company. The conversion was executed at a price of Rs. 205 per equity share, which includes a premium of Rs. 203 per share. This conversion is in accordance with the special resolution passed by shareholders at the Extra Ordinary General Meeting held on August 17, 2024, and SEBI regulations. Following this allotment, the company's issued, subscribed, and paid-up capital has increased. The total issued capital now stands at 13,82,94,410 equity shares aggregating to Rs. 27,65,88,820. The newly allotted shares will rank pari passu with the existing equity shares. As of the announcement date, 16,50,000 warrants remain outstanding for conversion.