Allotment of Equity Shares pursuant to conversion of convertiible warrants
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board, on November 13, 2025, approved conversion of 1,00,00,000 convertible warrants into an equal number of equity shares, with the company receiving Rs. 5.55 crore (Rs. 5.55 per warrant, the remaining 75% of the Rs. 7.40 issue price). The allottees were Forbes EMF (1 crore warrants), while Unico Global Opportunities Fund and Al Maha Investment Fund still hold 1.5 crore warrants pending conversion from the original 12.9 crore preferential warrant issue done in November 2024. After this allotment, the paid-up equity share capital stands at Rs. 55.36 crore (55.36 crore shares of Rs. 1 each). The company also reported Q2 FY26 revenue from operations of Rs. 11.09 crore (up from Rs. 6.41 crore YoY) and a net profit of Rs. 1.70 crore versus a loss of Rs. 23.34 lakh a year ago. For H1 FY26, net profit was Rs. 7.37 crore against a loss of Rs. 24.89 lakh in H1 FY25.
Conversion is dilution-neutral in cash terms as the warrant holders are paying the balance 75% price, and remaining 1.5 crore warrants will dilute further. Strong rebound in Q2 profits and revenue is a positive signal, though the auditor flagged pending verification of trade payables and loans/advances, which investors should watch.