Outcome of the Board Meeting held on November 28, 2025
Price
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iStreet Network Ltd has allotted 93,83,332 equity shares and 2,44,50,002 convertible warrants to select investors on a preferential basis at Rs. 6 per share/warrant (face value Rs. 4 plus Rs. 2 premium). The equity shares were allotted to 13 allottees for a total of Rs. 5.63 crore, while the warrants were allotted to 45 allottees with a total consideration of Rs. 14.67 crore, of which only Rs. 3.67 crore (25%) was received upfront with the balance payable later. The warrants are convertible into equity shares by May 27, 2027. The issue was approved by shareholders at the AGM on September 26, 2025, and received BSE in-principle approval on November 19, 2025.
This preferential allotment will dilute existing shareholders and increase the company's equity base once warrants are converted. The fresh capital infusion may support business growth, but warrants represent potential future dilution of about 2.45 crore additional shares.