Intimation towards allotment of Equity shares pursuant to conversion of share warrants.
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KS Smart Technologies has allotted 4,85,94,930 equity shares of Rs. 10 each upon conversion of warrants that were originally issued via preferential allotment in August 2025. Promoter group members (Shankar Varadharajan, Keshav A S, Venkatesh Subramanyam, Rohan Ramaswamy, and S. Vignesh) converted 3,45,94,390 warrants at Rs. 10 each, while non-promoter Vikasa India EIF I Fund converted 1,40,00,000 warrants at Rs. 20 each. The company received Rs. 46.94 crore as the balance 75% consideration. As a result, paid-up equity capital rose from 11,54,75,610 to 16,40,70,000 shares, with Vikasa India EIF I Fund picking up an 8.53% stake post-allotment. Promoter holdings of Shankar Varadharajan and Keshav A S diluted slightly from 28.32% to 25.36% each.
The conversion increases the share count and adds a notable institutional investor (Vikasa India EIF I Fund) to the cap table, which could be seen positively for credibility. However, the ~42% expansion in equity base is significant and may lead to EPS dilution for existing shareholders. The new shares will trade on BSE once listing approval is received.