Outcome of the Board Meeting dated 20.04.2026
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Nexome Capital Markets has converted 19,20,000 equity convertible warrants into equity shares after warrant holders paid the remaining 75% of the issue price (Rs. 48 per warrant), aggregating to Rs. 9.21 crore. The total issue price was Rs. 64 per share (Rs. 10 face value plus Rs. 54 premium), with 25% already paid at the time of warrant subscription. Promoter Mr. Utsav Parekh received 3,88,000 shares, while four non-promoter entities (Panchganga Advisors, Monet Securities, Forbes EMF, and Chivas Trading) received the remaining 15,32,000 shares. As a result, the company's paid-up equity share capital has increased to Rs. 10.73 crore, consisting of 1,07,35,500 equity shares of Rs. 10 each. The allotment was done on a preferential basis and the new shares will rank pari-passu with existing shares, subject to applicable lock-in norms.
Shareholders should note a dilution of approximately 17.9% in existing equity as the share count rose from 88,15,500 to 1,07,35,500, with promoter Utsav Parekh's stake increasing from 1.64% to 4.96%. The Rs. 9.21 crore inflow strengthens the company's capital base but the lock-in restriction means these shares cannot be sold immediately, limiting near-term supply pressure.