Allotment Of 16,20,000 Equity Shares Of Face Value Of INR 10/- Each Pursuant To Conversion Of 16,20,000 Fully Convertible Equity Warrants (Warrants)
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Aviva Industries has allotted 16,20,000 equity shares of face value INR 10 each, following the conversion of an equal number of fully convertible warrants. These warrants were originally issued on January 6, 2026 to Rathod Papubhai Babubhai, a non-promoter, at INR 28 per warrant on a preferential basis. As a result, the company's paid-up equity capital has risen from INR 22.88 crore (2.28 crore shares) to INR 24.50 crore (2.45 crore shares), an increase of about 7.1%. The board approved the allotment at its meeting on February 18, 2026.
This is a mild dilution event for existing shareholders, with the share count rising by roughly 7%. The company has received INR 4.54 crore (28 x 16,20,000) from the warrant holder, which could support working capital or growth plans, though the issue was at a fixed price to a single non-promoter allottee rather than the broader market.