for Allotment Of 31,80,000 Equity Shares Of Face Value Of INR 10/- Each Pursuant To Conversion Of 31,80,000 Fully Convertible Equity Warrants (Warrants)
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Aviva Industries has allotted 31,80,000 equity shares (face value INR 10 each) following the conversion of an equal number of fully convertible equity warrants. These warrants were originally issued on January 7, 2026, on a preferential basis to two non-promoter allottees — Pravinbhai Kashyabhai Jogari (15,95,000 shares) and Khalifa Irfan Yusufmiya (15,85,000 shares) — at an issue price of INR 28 per warrant. As a result, the company's paid-up equity capital has risen from INR 24,50,40,000 (2,45,04,000 shares) to INR 27,68,40,000 (2,76,84,000 shares), a dilution of roughly 13% in the share count. The decision was taken at a board meeting held on April 2, 2026.
This is a pre-planned warrant conversion rather than fresh fundraising, so the company has already received the INR 8.90 crore in proceeds when the warrants were issued earlier. Shareholders should note the dilution in equity from the new shares being added to the count, which can weigh on earnings per share going forward.