Baazar Style Retail Limited has informed the exchange regarding Allotment of 15,00,000 Securities by conversion of Warrants into Equity Shares pursuant to Preferential Issue at its meeting ....
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Baazar Style Retail Limited held its Board meeting on May 18, 2026, approving audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026 with unmodified opinion. The Board approved allotment of 15,00,000 equity shares of face value ₹5 each at ₹328.25 per share (including premium of ₹323.25) to Cupid Limited (Non-Promoter body corporate), upon conversion of equity warrants. Total consideration received was ₹36.93 crore (₹49.24 crore for full conversion). The company had originally allotted 1,01,00,000 warrants on April 2, 2026 at the same price, with 25% received upfront and 75% on conversion. The stock split proposal was deferred for further evaluation.
Partial conversion of 15 lakh warrants (out of 1.01 crore) dilutes equity by ~2-3% while bringing in ₹13.69 crore. Remaining 86 lakh warrants may convert later, causing further dilution. New shares rank pari-passu with existing shares.