Akash Infra has informed about allotment of 40,00,000 Convertible Warrants on preferential basis as approved by its Board of Directors today at board meeting held on 07/04/2026
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Akash Infra Projects has allotted 40 lakh convertible warrants at Rs. 40 per warrant, raising Rs. 4 crore upfront (25% of total issue value of Rs. 16 crore). The warrants are held predominantly by promoters and promoter group entities (totalling 35 lakh warrants), with 5 lakh warrants issued to public allottees. Each warrant is convertible into one equity share within 18 months from allotment. Post-conversion, Yoginkumar Patel will hold 21.76% and Ambusinh Gol will hold 21.19% of the company. The issue is backed by a shareholder resolution from March 16, 2026, and in-principle NSE approval dated March 24, 2026, in compliance with SEBI ICDR Regulations.
The warrants dilute existing shareholders upon conversion, but the upfront cash infusion of Rs. 4 crore provides liquidity. Since warrants are mostly held by promoters, it strengthens promoter skin in the game. Shareholder dilution of approximately 16% will occur if all warrants are converted.