The Board of Directors through Circular Resolutions passed on September 29, 2025 considered and approved the following: (i) Allotment of 24,00,000 equity shares to Zenith Dyeintermediates ....
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Birla Precision Technologies has allotted 24,00,000 equity shares (face value ₹2, premium ₹62, total price ₹64) to Zenith Dyeintermediates Limited, a Promoter Group entity, upon conversion of fully convertible warrants originally issued on a preferential basis in March 2024. Zenith paid the remaining 75% balance of ₹48 per warrant, amounting to ₹11.52 crore. Separately, 10,50,000 warrants held by non-promoter Anantroop Financial Advisory Services were forfeited and cancelled because they failed to pay the balance subscription amount within the 18-month window, and the upfront 25% amount already paid was also forfeited. Following the allotment, Zenith's stake in the company rose from 5.97% to 9.27%, and the total issued share capital increased from 6,59,87,637 to 6,83,87,637 shares.
This is a promoter-group led equity infusion of ₹11.52 crore through warrant conversion, increasing promoter holding to over 9%, which is mildly positive for shareholder confidence. However, dilution of around 3.6% from the new shares and the forfeiture of warrants (a non-promoter defaulted) may have a marginal dilutive impact on existing retail shareholders.