Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company at their Board ....
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Gemstone Investments Ltd's Board, on November 19, 2025, approved the allotment of 19,98,40,000 convertible warrants to 22 non-promoter allottees at Rs. 2.50 per warrant on a preferential basis. Each warrant is convertible into one equity share of Re. 1 face value, meaning up to 19.98 crore new shares could be issued upon full conversion, potentially raising up to Rs. 49.96 crore. The allotment follows a special resolution passed by shareholders on September 30, 2025. All recipients are non-promoters, including individuals, HUFs, and private companies such as SP and Nisha Private Limited and Mahevarsh Fincon Pvt. Ltd. The warrants are subject to receipt of minimum subscription money as per SEBI ICDR Regulations.
This is a major dilution event — if all warrants convert, the equity base expands by 19.98 crore shares, reducing existing shareholders' percentage holding significantly. On the positive side, the company stands to raise up to ~Rs. 50 crore for business purposes if conversion occurs. Shareholders should watch for the conversion timeline and any subsequent announcements.