Clarification regarding the Outcome of Board meeting held on Wednesday, April 15, 2026.
Awaiting price reaction for this filing.
Omega Interactive Technologies has issued a clarification correcting an inadvertent error in the issue price stated in the outcome of the April 15, 2026 Board meeting. The original outcome detailed the conversion of 5,31,29,400 Fully Convertible Equity Warrants into an equal number of equity shares at an issue price of INR 10.35 per share. The allotment was made via preferential issue to 8 non-promoter allottees including Kunjit Maheshbhai Patel, Nayanaben Chandubhai Thakor, Doxtrec Trade Private Limited, and others. Following the conversion, the company's paid-up equity share capital increased from INR 2,59,12,490 (2,59,12,490 shares of INR 1 each) to INR 7,90,41,890 (7,90,41,890 shares of INR 1 each) — a near tripling of share capital. The clarification does not disclose what the corrected issue price is, only that an error occurred.
Share capital has expanded significantly due to warrant conversion, which will dilute existing shareholders. The price correction note raises questions about transparency in the original filing and investors should await the corrected price disclosure before drawing conclusions.