Nitco Limited has informed the Exchange about Allotment of Equity Shares pursuant to exercise of share warrants
NITCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Nitco Limited's board approved the allotment of 1,14,00,000 equity shares to promoter and Chairman & MD Mr. Vivek Prannath Talwar at Rs. 92.25 per share (Rs. 10 face value + Rs. 82.25 premium), pursuant to the exercise of convertible warrants originally issued on a preferential basis in January 2025. The promoter paid the remaining 75% of the issue price, amounting to about Rs. 7.89 crore, to convert these warrants into shares. As a result, the promoter's stake in the company has risen from 4.29% to 8.82%. An additional 1,20,10,000 warrants remain pending conversion, exercisable by July 26, 2026. The board also cleared a postal ballot seeking shareholder approval for a material related party transaction with Authum Investments & Infrastructure Limited for FY 2026-27.
This is a dilution event but limited to the promoter group, which is increasing its commitment rather than outside shareholders being diluted further. The price of Rs. 92.25 is at a meaningful premium to face value, signaling promoter confidence, though existing minority shareholders should note that more warrants can still be converted over the coming months, which could further expand the promoter's stake.