Hubtown Limited has informed the Exchange regarding allotment of 15,81,747 equity shares upon conversion of Warrants on Preferential Basis under the provisions of SEBI (ICDR) Regulations, 2018 at its meeting held on July 25, 2025
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Hubtown Limited has allotted 15,81,747 equity shares (face value Rs. 10 each) to Khilen Vyomesh Shah, a member of the promoter group, upon conversion of an equal number of warrants. These warrants were originally issued on a preferential basis on September 30, 2024, at Rs. 220 per share, with 25% paid upfront and the balance 75% (Rs. 165 per warrant) due at the time of conversion. The company has now received Rs. 26.10 crore from the allottee for this conversion. As a result, the paid-up share capital has increased from Rs. 138.14 crore to Rs. 139.72 crore, and the total equity shares have risen from 13.81 crore to 13.97 crore. The newly allotted shares will rank equally with existing shares. This is a partial conversion of the original 1.25 crore warrants issued, with around 31.63 lakh warrants still pending conversion by the same allottee.
This is a small equity dilution of about 1.15% for existing shareholders, but the capital infusion of Rs. 26.10 crore strengthens the company's balance sheet. Since the conversion is by a promoter group member, it signals continued promoter confidence and commitment to the company.