Black Box Limited has informed the Exchange regarding allotment of 646674 securities pursuant to Preferential Issue at its meeting held on February 28, 2026
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Black Box Limited has allotted 6,46,674 equity shares on February 28, 2026, pursuant to the conversion of convertible warrants originally issued on September 27, 2024 at Rs. 417 per warrant (Rs. 2 face value + Rs. 415 premium). Three non-promoter allottees — Excello Fin Lea Limited (5,99,520 shares), Ushma Mehta (31,975 shares), and Ajay Patadia (15,179 shares) — paid the remaining 75% of the issue price to exercise their warrants, bringing in Rs. 26.97 crore of additional capital. The company's paid-up equity capital increased from 17,04,90,722 to 17,11,37,396 shares (Rs. 34.10 crore to Rs. 34.23 crore). A total of 63,57,859 warrants remain outstanding and eligible for future conversion.
This is a modest dilution for existing shareholders, but signals positive sentiment since warrant holders chose to convert rather than let warrants lapse. The fresh equity strengthens the company's capital base, and the share price at conversion (Rs. 417) implies investors see value at or above that level.