To Considered, approved and allotted 23,04,000 (Twenty-Three Lakh Four Thousand) Convertible Warrants ('Warrants'), each entitling the holder to exercise an option to convert the same into ....
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Kizi Apparels Ltd's board, at a meeting on 24th March 2026, approved the allotment of 23.04 lakh convertible warrants at Rs. 15.50 per warrant (face value Rs. 10 + premium of Rs. 5.50). Each warrant is convertible into one equity share within 18 months. Allottees include promoters Abhishek Nathani (5.01 lakh), Kiran Nathani (3.99 lakh), Raj Kumar Nathani (3 lakh), Suchitra Nathani (3 lakh), and select public-category investors including HUF and private entities. The company has received 25% of the consideration upfront, amounting to Rs. 89.28 lakhs, with the remaining 75% payable at the time of warrant exercise. The total potential inflow upon full conversion is approximately Rs. 3.57 crore.
This preferential warrant issue will result in equity dilution once the warrants are converted within 18 months. Promoters receiving a significant portion signals insider confidence, though retail investors should monitor the stock for potential supply pressure upon conversion.