BOROSIL RENEWABLES LIMITED has informed the Exchange regarding allotment of 583905 equity shares pursuant to conversion of warrants allotted under the preferential issue, at its meeting held on Jun 09, 2025
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Borosil Renewables has allotted 5,83,905 equity shares of Re. 1 face value to warrant holders who opted to convert their warrants into shares. These warrants were originally issued on February 14, 2025, on a preferential basis at Rs. 530 per warrant, with holders having already paid 25% (Rs. 132.50) upfront. The remaining 75% (Rs. 397.50 per warrant) has now been paid by the converting holders. With this allotment, the company's paid-up equity capital has risen to Rs. 13.30 crore divided into 13.30 crore equity shares. Allottees include 9 non-promoter entities, with Niveshaay Sambhav Fund being the largest, taking 2,04,528 shares, followed by Urvish Vora with 1,00,000 shares.
This is a minor dilution of about 0.44% to existing shareholders. The fact that warrant holders are willing to pay the balance Rs. 397.50 per share to convert shows continued confidence in the company at the Rs. 530 price point. Only ~7.4% of the total 78.80 lakh warrants issued have been converted so far, so further share allotments may follow within the 18-month window.