Promoter group allots 36.55 crore warrants via preferential issue

The promoter group of Indiabulls Limited, led by Phanes Limited and PACs including Sameer Gehlaut, received 36,55,00,000 convertible warrants through a preferential allotment on September 24, 2026. Of these, 22,52,50,000 warrants went to Phanes Limited and 14,02,50,000 to PACs. Each warrant converts into one equity share of Rs 2 face value. Post full conversion, the promoter group's effective stake on a diluted basis will rise from about 32.88 percent to 39.45 percent. Current paid-up holding is 32.87 percent after minor ESOP allotments.