Board Meeting Outcome
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The board of Inter Globe Finance Ltd, at its meeting on November 6, 2025, approved the allotment of 26,12,000 equity shares upon conversion of convertible warrants at Rs. 46.50 per share (face value Rs. 10), aggregating to Rs. 9.11 crore. The shares have been allotted to 5 allottees, including promoters Pramod Kumar Jain (4,87,000 shares) and Manju Jain (10,00,000 shares), and non-promoters Vijay Kumar Jain, Ravi Jain HUF, and Vikash Kedia. These warrants were originally issued on a preferential basis on February 21, 2024, with BSE's in-principle approval received in May 2024. This is part of the ongoing conversion process — earlier tranches were already converted in August 2024 and October 2025. The remaining 75% subscription money of Rs. 9.11 crore has been received from the allottees.
This is a routine completion of an already-announced preferential warrant conversion, not new capital raising. Shareholders should note minor dilution due to fresh equity issuance, but since the warrants were issued earlier, the impact on stock price is expected to be limited. Promoters have participated meaningfully in the conversion.