Allotment of 4,41,164 equity shares upon conversion of warrants issued on Preferential Basis
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Relic Technologies has allotted 4,41,164 equity shares of Rs. 10 face value at Rs. 85 per share (including Rs. 75 premium) to 5 allottees upon conversion of warrants that were originally issued on a preferential basis (approved by shareholders in March 2025). The company received Rs. 2.81 crore as the balance 75% consideration due upon conversion. Three allottees are from the promoter group (Nehal Gandhi, Kunal Gandhi, ENAI Trading) and two are non-promoters (Radhika Shriram and Karthik Iyer, the Executive Director). Post-allotment, the company's paid-up equity capital stands at Rs. 5.59 crore (55,91,164 shares). The board also approved a name change to 'Truhealthy Sciences Limited', an ESOP 2025 scheme for up to 1,10,000 stock options, shifting of registered office, and appointment of a new non-executive director.
The warrant conversion increases the share count by about 8.6% and brings in Rs. 2.81 crore of fresh capital, slightly diluting existing shareholders. The proposed name change and ESOP scheme signal a strategic pivot toward health and nutrition, but the small-cap status and concentration of allotment among promoters and insiders warrants close monitoring.