Black Box Limited has informed the Exchange regarding allotment of 1248247 securities pursuant to Convertible Securities at its meeting held on March 25, 2026
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Black Box Limited has converted 12,48,247 convertible warrants into equity shares at Rs. 417 per share (Rs. 2 face value + Rs. 415 premium). The company received Rs. 52.05 crore as balance consideration (75% of issue price) from 5 allottees, including a KMP and a QIB (Eminence Global Fund). This completes the preferential issue first announced in September 2024, with all warrants now fully converted. The company's paid-up equity capital has increased from 17,62,47,008 to 17,74,95,255 shares. The new shares will rank equally with existing shares.
This is a pre-scheduled conversion from the 2024 warrant issue, not fresh capital raising, so it was largely expected. The ~0.71% equity dilution is minor and signals confidence from the warrant holders in the company's prospects, as they chose to pay the balance amount and convert rather than let warrants lapse.