Inter Globe Finance Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/10/2025 ,inter alia, to consider and approve 1. The allotment/conversion ....
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Inter Globe Finance Ltd has informed BSE that its Board of Directors will meet on 16th October 2025 to consider and approve the allotment/conversion of convertible warrants into equity shares of Rs. 10/- each at a price not less than Rs. 46.50 per share. This allotment will be on a preferential basis to both Promoters and Non-Promoters. The conversion is being done in accordance with a special resolution passed by shareholders at an Extraordinary General Meeting held on 18th March 2025. The company had previously received an 'In-Principal Approval' from BSE dated 15th May 2024 for this issuance.
This is a routine procedural step to convert already-issued warrants into actual equity shares, which may lead to dilution of existing shareholders. However, the floor price of Rs. 46.50 provides a benchmark, and the conversion itself does not bring in new cash since the warrants were likely subscribed earlier. Shareholders should watch for the final allotment numbers and any resulting change in shareholding pattern.