Allotment of 6,95,000 Equity shares pursuant to conversion of warrants vide circular resolution.
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Citadel Realty and Developers Ltd has converted 6,95,000 convertible warrants into 6,95,000 equity shares of ₹10 each at an issue price of ₹50 per share (including ₹40 premium). The shares were allotted to Mr. Parmeet Mayur Shah, belonging to the promoter category, on a preferential basis via a circular resolution dated January 30, 2026. The company received ₹2,60,62,500 (the balance 75% of the issue price) at the time of conversion, with the remaining 25% already paid at the time of warrant subscription. As a result, the promoter's shareholding in the company will increase from 4.97% (4,12,802 shares) to 12.31% (11,07,802 shares) post-allotment.
This is a promoter-driven preferential allotment that increases the promoter's stake from 4.97% to 12.31%, signaling stronger promoter commitment. The conversion brings in ~₹2.6 crore of fresh capital, but the small issue size and concentration in one promoter are unlikely to materially impact the stock price.