Allotment
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The Allotment Committee of Oriental Rail Infrastructure Ltd, at its meeting on July 12, 2025, allotted 10,00,000 equity shares (face value Re. 1 each) to Mrs. Wazeera S. Mithiborwala, a member of the Promoter Group, upon conversion of an equal number of convertible warrants. The conversion price was Rs. 169 per share, which includes a premium of Rs. 168. Mrs. Mithiborwala had originally been allotted 75,00,000 warrants under a preferential issue approved in January 2024; 55,00,000 of those were already converted earlier, and after this tranche 10,00,000 warrants remain outstanding. Post-allotment, her total holding in the company stands at 69,47,000 equity shares. The new shares are subject to SEBI-mandated lock-in.
This is a routine warrant-to-equity conversion by an existing promoter-group holder, resulting in a small equity dilution (~10 lakh shares) and modest cash inflow of about Rs. 16.9 crore to the company. For shareholders, it confirms continued promoter commitment but also slightly expands the promoter group's stake and share count.