The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Adit Mittal & PACs
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Awaiting price reaction for this filing.
Promoters Mr. Adit Mittal, Mr. Gaurav Mittal, and Mrs. Swati Jain of ITCONS E-Solutions have converted 11,26,600 warrants into equity shares on January 6-7, 2026. The conversion increased the company's equity capital from 60,36,526 to 72,03,126 shares (Rs. 6.03 crore to Rs. 7.20 crore at Rs. 10 face value). After conversion, the promoter group's equity holding rose from 56.78% to 63.22%, though their fully diluted holding remains unchanged at 64.14%. The warrants were originally subscribed at Rs. 71 per share with a 25% upfront payment under SEBI ICDR Regulations, 2018. About 78,65,600 promoter and non-promoter warrants remain outstanding as of date.
This is a pre-planned warrant conversion rather than a fresh market purchase, so it is largely technical and price-neutral. However, it increases the promoter group's effective voting power on equity from 56.78% to 63.22%, further consolidating their control of the company.