Outcome of Board Meeting held on 10th January, 2026 for approval of allotment of equity shares on preferential basis and allotment of Convertible warrants
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Ecoboard Industries announced allotment of 34,41,417 equity shares at Rs. 33.50 per share (Rs. 10 face value + Rs. 23.50 premium), raising about Rs. 11.53 crore in total. The board also allotted 18,07,835 convertible warrants at the same price of Rs. 33.50 each, with 25% upfront amount of Rs. 1.51 crore received, and the remaining 75% payable on exercise within 18 months. Promoter Rama Krishna Raju Gottumukkala received 16,25,000 shares and all 18,07,835 warrants through conversion of loan into equity, while non-promoter allottees including Pushkala Avenues LLP, Suman Gupta, and others received shares for cash. The allotment was made under a preferential issue approved by shareholders via special resolution on November 7, 2025.
This is a dilution event for existing shareholders as new shares and potential future shares (from warrants) are being issued. Promoter loan-to-equity conversion is mildly positive as it strengthens the balance sheet, while cash raised from non-promoters (~Rs. 5.6 crore) adds to company funds.