Allotment of Fully Convertible Equity Warrants on a Preferential basis.
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Aviva Industries Ltd has allotted 1,11,85,000 (about 1.12 crore) Fully Convertible Equity Warrants to 7 non-promoter allottees at Rs. 28 per warrant, including a premium of Rs. 18 per warrant (face value Rs. 10). This is the first tranche of a preferential issue, approved by shareholders on September 30, 2025 and given in-principle approval by BSE on January 2, 2026. Each warrant is convertible into one equity share within 18 months, with 25% of the price paid upfront and the remaining 75% due on conversion. If all warrants are converted, the allottees will collectively hold about 49% of the company, while paid-up capital remains unchanged for now.
This is a significant equity dilution event — if all warrants are converted, existing shareholders will see their stake reduced to roughly 51%. On the positive side, the company raises immediate funds (~Rs. 7.83 crore from the 25% upfront payment) and has potential to raise the full ~Rs. 31.32 crore on conversion, which could strengthen its balance sheet.