The Board of Directors at its meeting held today i.e., 27 May, 2026 has allotted 1,36,50,000 equity shares pursuant to conversion of share warrants issued on preferential basis.
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RDB Infrastructure and Power Ltd has allotted 1,36,50,000 equity shares (face value Re. 1 each) upon conversion of warrants at Rs. 40.5 per warrant, receiving Rs. 41.46 crore (75% of issue price). The conversion deadline was May 26, 2026. Allottees include Loka Properties (94.5 lakh warrants), Vicky Sales (12.5 lakh), and 6 other individuals. Capital increased from Rs. 20.39 crore to Rs. 22.37 crore. Additionally, 1.78 crore warrants (including 1.5 crore held by Multitude Growth Funds) were forfeited for non-exercise. The company also invested Rs. 4.35 lakh in Maxim Industries (a solar cell manufacturing company) for 29% stake. Annual results show net profit of Rs. 12.52 crore (up 126% YoY) on revenue of Rs. 127.69 crore, with an exceptional gain of Rs. 2.49 crore from Anjana Project slump sale.
Dilutive for existing shareholders as share count increased ~9.6%. However, warrant conversion brings Rs. 41.46 crore cash inflow and strengthens the equity base. The conversion was at a significant premium (40.5x face value), signaling investor confidence. Forfeited warrants reduce potential future dilution.