Nakoda Group of Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on April 16, 2026.
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Nakoda Group's board approved the issuance of up to 87,00,000 Convertible Warrants on a preferential basis at Rs. 28 per warrant, aggregating to approximately Rs. 24.36 crore. Each warrant converts into 1 equity share at a 1:1 ratio within 18 months of allotment. The largest allottee is No CTRL Enterprises LLP (Promoter category) receiving 40,00,000 warrants (15.25% post-allotment holding), while 9 other non-promoter investors receive the remaining 47,00,000 warrants. Payment terms require 25% upfront and 75% on conversion. The proposal is subject to shareholder approval via an EGM scheduled for May 13, 2026. The board also appointed Mr. Apurv Hirde as the new Company Secretary and Compliance Officer.
The warrant issuance will dilute existing shareholders by ~33% on a fully converted basis. The Promoter entity (No CTRL Enterprises LLP) will increase its stake to 15.25%, consolidating promoter influence while the company raises growth capital. The terms are at a floor price per SEBI ICDR regulations.