Board Meeting held on 22nd September, 2025to consider and allot 7959313 Equity Shares Pursuant to conversion of Equity Warrant.
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Epuja Spiritech Ltd's board approved the allotment of 79,59,313 equity shares (face value INR 1 each) at INR 3.40 per share (including INR 2.40 premium), pursuant to the conversion of fully convertible warrants originally issued via a preferential allotment. All 16 allottees belong to the Non-Promoter category, with no promoter participation in this tranche. As a result, the company's paid-up equity capital has increased from INR 9.55 crore (9.55 crore shares) to INR 10.35 crore (10.35 crore shares). Notably, a large pool of 6,99,74,118 warrants remains outstanding and is expected to convert into equity shares in the future, which could further dilute existing shareholders.
This is a pre-committed conversion with no fresh inflow, but it adds 79.59 lakh new shares to the count, modestly diluting existing holders. The much larger remaining warrant pool (about 6.99 crore) signals significant potential dilution ahead if converted, which shareholders should monitor for valuation impact.