Innovana Thinklabs Limited has informed the Exchange regarding Board meeting held on Jun 27, 2025.Issue of not exceeding 8,60,000 (Eight Lakh Sixty Thousand only) convertible warrants at a price of ₹ 431/- (Rupees Four Hundred Thirty-One only) each to the Promoter/ Promoter Group of the Company and certain identified non - promoter persons / entities by way of preferential allotment, subject to the approval of the shareholders in the ensuing Extra Ordinary General Meeting of the Company.
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Innovana Thinklabs' board has approved issuing up to 8,60,000 convertible warrants at ₹431 per warrant to promoter group and select non-promoter entities, aggregating to about ₹37.07 crore. Each warrant is convertible into one equity share of ₹10 face value, with 25% payable upfront and the remaining 75% on conversion within 18 months. Promoter Chandan Garg will receive 1,20,000 warrants, while 16 non-promoter allottees — including RNR Wealth Management, Manish Kumar HUF, and Aryansh Advisors — will take the balance. An Extra-Ordinary General Meeting is scheduled for July 23, 2025, to seek shareholder approval.
The preferential issue will dilute existing shareholders but brings in fresh capital of roughly ₹37 crore. Promoter Chandan Garg's holding will move from 71.26% to 68.95% post-conversion, so promoter control remains largely intact. Shareholders should watch the EGM outcome on July 23 and the eventual conversion price relative to market price, as the warrants could become a supply overhang if the stock trades below ₹431.