Board meeting outcome for the allotment of 2,78,30,000 equity share warrants to Promoter & Non-promoters (public)
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Mehai Technology Limited has allotted 2,78,30,000 convertible warrants on a preferential basis at ₹33.60 per warrant. Each warrant is convertible into one equity share of face value ₹1, with allottees having already paid 25% upfront (₹8.40 per warrant), bringing in ₹23.37 crore into the company. The remaining ₹25.20 per warrant is payable later when conversion is exercised. The largest allottee is promoter entity Dynamic Services & Security Limited, receiving 2.36 crore warrants (about 85% of the issue), while two public allottees (Pushpa Bhaju and Ashit Kumar Singh) received the rest. The allotment was approved by the Board on January 24, 2025, and EGM on February 22, 2025, with BSE in-principle approval received on May 5, 2025.
This is a significant dilution event — if all warrants are converted, around 2.78 crore new shares will be created, materially expanding the share base. The promoter's large allotment signals confidence and a strengthening of promoter control, while the ₹23.37 crore already received (and up to ₹93.5 crore more if fully converted) provides fresh capital, though existing shareholders should watch for future dilution.