Allotment of Equity Shares pursuant to conversion of warrants through circular resolution.
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iStreet Network Ltd's board passed a circular resolution on May 6, 2026 approving the conversion of 10,83,334 warrants into an equal number of equity shares of face value ₹4 each. The conversion was exercised at ₹6 per warrant, with the company receiving ₹48,75,002 (75% of issue price as balance amount). The allottees include 4 public category warrant holders: Kejal Haria (4,16,667 shares), Tejas Virkar (2,50,000 shares), Trupti Shukla (2,50,000 shares), and Ashvin Shukla (1,66,667 shares). The warrants were originally allotted on November 28, 2025. Post-allotment, the company's paid-up equity share capital increased from ₹27,76,66,676 to ₹28,20,00,012, representing a dilution of approximately 1.56%.
This warrant conversion will cause minor dilution for existing shareholders. The equity shares rank pari-passu with existing shares. No significant immediate impact expected as conversion was already anticipated by shareholders.