Conversion & Allotment of 21,26,000 convertible warrants into fully paid Equity Shares to Promoters & Non-Promoters on Preferential basis
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Inter Globe Finance's board, at its November 6, 2025 meeting, approved converting 26,12,000 convertible warrants into equity shares at Rs. 46.50 per share (face value Rs. 10) on a preferential basis, raising Rs. 9.11 crore as the balance 75% subscription money. The shares are being allotted to 5 allottees — two promoters (Pramod Kumar Jain with 4,87,000 shares and Manju Jain with 10,00,000 shares) and three non-promoters including Vijay Kumar Jain (7,00,000 shares) and Ravi Jain HUF (3,75,000 shares). This is the third tranche of conversion from the original 76,60,000 warrants issued in February 2024, following earlier conversions of 21,35,000 warrants in August 2024 and 19,95,000 warrants in October 2025. The issue price of Rs. 46.50 represents a substantial premium over the face value of Rs. 10 per share.
The conversion strengthens the company's equity capital while bringing in fresh funds from promoters and promoter-group entities, signalling continued promoter confidence. Existing shareholders will see moderate dilution, but the strong promoter participation is a positive sign of commitment to the business.