Outcome of Meeting of Board of Directors pursuant to Regulation 30 of the SEBI (LODR) Regulations 2015 - Allotment of Equity Shares upon conversion of Warrants.
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Kay Power and Paper's board, at its meeting on October 11, 2025, approved the allotment of 31,00,000 equity shares of ₹10 face value each at an issue price of ₹30.10 per share (including a premium of ₹20.10), upon conversion of equal number of warrants. This follows the original allotment of 2,59,00,000 convertible warrants made on April 15, 2024. The total consideration from this tranche is approximately ₹6.99 crore. Two allottees subscribed: Chandra Trading and Investment Pvt Ltd (promoter group) got 30,00,000 shares, while Anita (non-promoter) got 1,00,000 shares. As a result, the company's paid-up equity capital has risen from ₹31.84 crore to ₹34.94 crore, comprising 3,49,40,000 shares.
This is a dilution event for existing shareholders — the share count grew by about 9.7% (from 3.18 crore to 3.49 crore shares). Promoter group entity Chandra Trading nearly doubled its stake from 8.69% to 16.51%, strengthening promoter control. The stock may see mild technical pressure from increased float, though capital infusion is positive for the company's books.