Max Estates Limited has informed the Exchange regarding allotment of 1141552 Equity Shares pursuant to the Conversion of Warrants on January 06, 2026
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Max Estates Limited has allotted 11,41,552 equity shares (face value ₹10) to Max Ventures Investment Holdings Private Limited, a promoter group entity, upon conversion of an equivalent number of warrants at ₹657 per share. The promoter paid the balance 75% of the issue price, amounting to ₹56.25 crore, on January 6, 2026. These warrants were originally allotted on October 29, 2024 at ₹164.25 per warrant (25% upfront), with the balance of ₹492.75 per warrant now being paid. The company's paid-up equity capital increased from ₹162.29 crore to ₹163.43 crore, with total shares rising from 16.22 crore to 16.34 crore. The allottee's shareholding rose from 21.36% to 21.91% in this specific entity, while the overall promoter group holding went from 44.89% to 45.28%.
The conversion is a positive signal of promoter confidence, as the promoter group has infused additional capital of around ₹56 crore into the company. Public shareholders face marginal dilution of about 0.39% in the shareholding pattern. The newly allotted shares are subject to lock-in under SEBI ICDR regulations, which may limit immediate supply pressure from these shares.