AVRO INDIA LIMITED has informed the Exchange regarding Outcome of Board Meeting held on April 18, 2026.
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Avro India's board, at its meeting on April 18, 2026, approved the allotment of 1,06,090 fully paid-up equity shares (face value Rs. 10) to four non-promoter warrant holders who exercised their conversion option. These warrants were originally allotted on a preferential basis in October 2024 at Rs. 127.25 per warrant, with only 25% paid upfront. The warrant holders have now paid the balance 75% to complete the conversion at the same Rs. 127.25 price. The allottees include Charuben Yogesh Ajmera (7,859 shares), Santosh Kumar Pandey (23,576 shares), Sunil Duggal (58,938 shares), and Suresh Zunzunwala (15,717 shares). As a result, the company's paid-up equity share capital has increased from 1,33,11,050 shares (Rs. 13.31 crore) to 1,34,17,140 shares (Rs. 13.42 crore). Separately, 4,24,361 warrants lapsed because holders did not pay the balance 75% within 18 months, and the 25% upfront amount received on those warrants has been forfeited.
This is a small dilution of around 0.8% in the share count from previously disclosed warrants, with the issue price already known to the market, so the immediate stock price impact is expected to be limited. The forfeiture of upfront payments on lapsed warrants is a minor positive for the company.