Allotment Of 32,00,000 Equity Shares Of Face Value Of INR 10/- Each Pursuant To Conversion Of 32,00,000 Fully Convertible Equity Warrants (Warrants'''''''')
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Aviva Industries has allotted 32,00,000 equity shares (face value INR 10 each) following the conversion of an equal number of fully convertible warrants. The warrants were originally issued on January 7, 2026 on a preferential basis to two non-promoter allottees — Mr. Md Zahid (16,10,000 shares) and Mr. Thakor Jitendrasinh Jashvantsinh (15,90,000 shares) — at an issue price of INR 28 per warrant. As a result, the company's paid-up equity capital has risen from INR 17.57 crore (1.75 crore shares) to INR 20.77 crore (2.07 crore shares), a dilution of roughly 18.2% on a share-count basis.
This is a pre-disclosed warrant conversion (the warrants were issued only about a month earlier), so the dilution was largely anticipated. The INR 28 issue price sits at a premium to face value, bringing fresh capital into the company, though the stock could see modest near-term supply pressure from the newly allotted shares.