Outcome of the Board Meeting held on November 30, 2025
Price
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Awaiting price reaction for this filing.
iStreet Network Ltd has allotted 1,37,83,335 equity shares at Rs. 6 each and 31,66,668 convertible warrants at Rs. 6 each on a preferential basis, following shareholder approval in the AGM on September 26, 2025 and BSE in-principle approval on November 19, 2025. The equity shares (face value Rs. 4) were allotted to 13 allottees, raising around Rs. 8.27 crore in total, while the warrants (also face value Rs. 4) were allotted to 8 allottees with a conversion date of May 29, 2027, carrying a potential additional inflow of about Rs. 1.90 crore (only 25% upfront received now). The shares will rank pari passu with existing equity shares, while warrants carry no voting rights until converted. All allottees appear to be individual investors/related parties, with no institutional or marquee names disclosed.
This preferential allotment will dilute existing shareholders' equity by adding over 1.37 crore new shares, with further possible dilution from warrant conversion in 2027. The capital raise (~Rs. 8.27 crore from shares plus potential Rs. 1.90 crore from warrants) is modest and may be used for business purposes, but retail investors should note the equity expansion and the long timeline for warrant conversion.