Please find attached Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Allotment of Warrants.
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The company has allotted 6,63,51,000 convertible warrants to 23 non-promoter (public category) allottees under a preferential allotment at Rs. 12.96 per warrant (Rs. 10 face value plus Rs. 2.96 premium). The company has received Rs. 21.50 crores as the 25% upfront subscription amount from all allottees, with the remaining 75% to be paid at the time of conversion. Each warrant is convertible into 1 equity share of Rs. 10 face value within 18 months (by around September 2027), in one or more tranches. Any warrants not converted by the deadline will lapse and the 25% amount already paid will be forfeited. The total potential consideration, if all warrants are converted, works out to roughly Rs. 86 crores. Major allottees include Spunwell Technology (1.06 crore warrants), Divya Singh Kushwaha (80 lakh), Pearl Dealers (49 lakh), Orchard Road Properties (47 lakh), and Mocktail Trading (42 lakh).
This is a sizeable capital-raising move via preferential allotment to public-category investors and is likely to be meaningfully dilutive for existing shareholders once the warrants are converted into equity over the next 18 months. Investors should track conversion announcements and watch for the post-allotment shareholding pattern to assess the actual impact on their stake.