Outcome of the Board Meeting held today on Saturday 20th September 2025 in respect of conversion of Warrants into Equity Shares.
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Awaiting price reaction for this filing.
Mehai Technology's board approved converting 75,60,000 warrants into 75,60,000 equity shares (1:1 ratio) at an issue price of ₹3.5 each (face value ₹1 + premium ₹2.5). The company received ₹1.98 crore as the balance 75% payment from three allottees — Popatlal Shantilal Jain HUF (15 lakh shares), Alka Jaysing Tambe (30.30 lakh shares), and J G Tambe (30.30 lakh shares), all public-category investors. Post this allotment, the paid-up equity capital has risen to ₹37.80 crore, comprising 37.80 crore shares of ₹1 each. The company had earlier done a 10:1 stock split in March 2025, adjusting the share structure. Notably, 9.30 crore warrants from promoter Dynamic Services & Security Limited and 10.60 crore warrants from non-promoters still remain pending conversion, signaling more dilution ahead.
This is a dilution event for existing shareholders — the share count has increased and nearly 19.90 crore additional warrants are still pending conversion, which could weigh on the stock price once those are also converted. However, the fresh capital of ~₹1.98 crore strengthens the company's equity base marginally.