The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gaurav Mittal & Others
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ITCONS E-Solutions promoters (Gaurav Mittal, Swati Jain, Adit Mittal) converted 12,58,200 convertible warrants into equity shares between January 29-30, 2026. The warrants were originally issued on July 29, 2024 at Rs. 71 per share. This increased the total equity shares from 73,03,126 to 90,08,326 and the paid-up capital from Rs. 7.30 crore to Rs. 9.01 crore. Promoter Gaurav Mittal's individual holding rose from 31.75% to 34.78%, Swati Jain's from 22.33% to 22.08% (slight dip due to higher dilution), and Adit Mittal's from 8.27% to 7.66%. Combined promoter group shareholding increased from 62.35% to 64.52% on a non-diluted basis.
This is a positive signal showing promoter confidence in the company, as they are putting additional capital (the remaining 75% of Rs. 71 per share) to convert warrants into equity. However, the conversion also increases the total share count, causing some dilution for non-promoter shareholders on a fully diluted basis.