Outcome of Board Meeting held today i.e. June 09, 2026 allotted equity shares on conversion of warrant
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Naapbooks Ltd's board, at its meeting on June 09, 2026, approved the allotment of 3,73,314 equity shares (face value Rs. 10 each) at Rs. 61 per share (including Rs. 51 premium) on conversion of warrants that were originally issued on a preferential basis on December 10, 2024. Of the 26,13,100 warrants originally allotted, only about 3.73 lakh were converted by 10 allottees (9 from promoter/promoter group and 1 from public), while the remaining 11,13,386 warrants lapsed or were cancelled because allottees did not pay the balance 75% amount within the 18-month window. The conversion was done on a pro-rata basis using the 25% upfront amount (totaling Rs. 2.27 crore) already received at the time of warrant allotment. Post-allotment, the company's paid-up equity capital rose from Rs. 11.84 crore (1.18 crore shares) to Rs. 12.21 crore (1.22 crore shares).
For shareholders, this signals only a partial conversion — over 78% of the originally issued warrants have lapsed, meaning far less equity dilution than initially expected. The company retains the upfront money already collected, and the marginal increase in share count (about 3.15%) is unlikely to materially affect stock price.