Promoter buys 17.17% voting stake through convertible warrants
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Promoter Mukesh Goel was allotted 726,829 fully convertible warrants at Rs 82 each through a preferential issue. Each warrant converts into one Rs 10 equity share within 18 months, with 25% of the price paid upfront. He already held 2,124,998 shares, or 50.20%. Including the warrants, his voting stake becomes 67.37%, or 57.49% if all warrants are converted.
The purchase strengthens promoter control. Conversion would add 726,829 shares, equal to 14.65% of enlarged voting capital, while increasing ownership concentration.