Balu Forge Industries Limited has informed the Exchange regarding allotment of 10,00,000 Equity Shares fully paid up upon exercising the option available with the Share Warrant Holder (person belonging to the Non-Promoter group) to convert 10,00,000 (Ten Lakhs) Convertible Warrants pursuant to Preferential Issue at its meeting held on December 30, 2025
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Balu Forge Industries has allotted 10,00,000 fully paid-up equity shares to Krisharya Trust, a non-promoter group entity, upon conversion of 10 lakh convertible warrants at a 1:1 ratio. The shares were issued at Rs. 360 each (face value Rs. 10, premium Rs. 350), bringing in a total consideration of Rs. 27 crore. The 75% balance amount of Rs. 27 crore was now received, as 25% was already paid at the time of warrant allotment. The board approved this conversion at its meeting held on December 30, 2025.
This is a routine warrant conversion from a previously announced preferential issue, so it brings in Rs. 27 crore of fresh capital and results in a minor dilution of existing shareholders' equity. The conversion price of Rs. 360 suggests warrants were originally issued at a premium to market, indicating investor confidence at the time of allotment.