Issue Offer Letter Cum Application Letter of Active Clothing Co Limited to issue of convertible warrants on preferential basis.
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Active Clothing Co Limited is issuing 20,00,000 (Twenty Lakh) convertible warrants at Rs. 115 per warrant, aiming to raise up to Rs. 23 Crores. Each warrant, carrying face value of Rs. 10 and a premium of Rs. 105, is convertible into one equity share within 18 months of allotment. Allottees include promoters Rajesh Mehra and Renu Mehra (4 lakh warrants each), promoter group member Kalika Mehra (2 lakh warrants), and non-promoters Stellant Securities (3 lakh warrants), Mangala Subhash Rathod (3 lakh warrants), and Subhash Phootarmal Rathod (4 lakh warrants). The proceeds will be used for working capital, business expansion, and general corporate purposes. BSE in-principle approval was received on March 11, 2026, and the offer letter is valid from March 12 to March 19, 2026, with allotment expected on or before March 25, 2026. Post-issue, promoter shareholding will decline slightly from 73.58% to 70.88%, while public shareholding will rise from 26.42% to 29.12%, assuming full conversion.
The Rs. 23 Crore capital infusion will strengthen the company's working capital and fund growth plans. Warrants carry a 25% upfront payment, with the balance due on conversion, limiting immediate cash dilution. Post-conversion, total share count will rise by ~12.9%, but promoter participation signals confidence in the business.