Akash Infra Projects Limited has informed the Exchange regarding allotment of 40,00,000 Convertible Warrants pursuant to Preferential Issue at its Board meeting held on April 07, 2026
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Akash Infra Projects Limited's Board has approved the allotment of 40,00,000 (40 lakh) convertible warrants at Rs. 40 each, raising Rs. 4 crore in total. Only 25% of the issue price (Rs. 10 per warrant) was received as subscription money upfront, with the balance payable upon conversion. The warrants are convertible into an equal number of equity shares within 18 months from allotment. Out of 19 allottees, 11 are promoters or promoter group entities receiving 35 lakh warrants (87.5% of the issue), while 8 public shareholders receive 5 lakh warrants. Promoter Yoginkumar Patel and Ambusinh Gol are the largest allottees at 7 lakh and 5 lakh warrants respectively.
The allotment is heavily skewed toward promoters, which could concern minority shareholders due to potential dilution and control concentration. The 18-month conversion window means shares may be issued in future, creating dilution risk for existing public shareholders.