The Board of Directors at their meeting held on May 21, 2026 considered and approved the issue of warrants convertible into equity shares on Preferential basis, subject to members approval ....
HARIOMPIPE · price
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Hariom Pipe Industries' Board approved issuing up to 15 lakh convertible warrants to promoter group members (Rupesh Kumar Gupta, Shailesh Kumar Gupta, Parul Gupta, and Isha Gupta) at Rs. 343 per warrant, aggregating Rs. 51.45 crore. Only 25% of the warrant price (Rs. 85.75) is payable upfront, with the remaining 75% due upon conversion. The warrants have an 18-month tenure from allotment, and unexercised warrants will lapse with forfeiture of the upfront amount. Post-conversion, promoter holding will increase from ~29.85% to ~33.08%. The company is also altering its AOA to permit conversion of debt/loans into equity shares.
Promoter holding will increase, diluting public shareholders. The deferred payment structure gives promoters leverage with limited upfront capital outlay. Approval from shareholders at an EGM on June 16, 2026 is required.