Board considered and approved the issue and allotment of 18,00,000 (eighteen lakhs) fully convertible warrants carrying a right exercisable by the warrant holders to subscribe to one Equity ....
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The board approved the allotment of 18,00,000 (18 lakh) fully convertible warrants on a preferential basis at Rs 28 per share (including a Rs 18 premium over the Rs 10 face value), aggregating up to Rs 5.04 crore. The warrants will go to promoter firm Alphalogic Techsys Ltd (11.7 lakh warrants), promoter group member Mrs Neha Anshu Goel (3 lakh warrants), and non-promoter Vivaro Enterprises Ltd (3.3 lakh warrants), subject to shareholder approval at the AGM on September 24, 2025. Each warrant is convertible into one equity share within 18 months, with only 25% of the issue price payable upfront. Separately, Managing Director Vedant Goel will step down on September 30 and be redesignated as a Non-Executive Director, while current Executive Director Montubhai Gandhi will take over as Managing Director from October 1, 2025. The board also appointed M/s Anuradha Acharya & Co. as secretarial auditor for five years (FY26–FY30) and replaced the internal auditor with Mr Ritesh Agrawal.
This is a small capital raise (~Rs 5 crore) and once the warrants are converted it will modestly dilute existing shareholders' stakes, though promoters are putting in most of the money which signals confidence in the company. The leadership change at the top is a notable governance event investors should watch.