Intimation for allotment of unlisted 1313131 CCPS and 750000 warrants.
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The company's Preferential Issue Committee approved two allotments on November 11, 2025. First, 13,13,131 fully paid 0.01% Compulsorily Convertible Preference Shares (CCPS) of face value Rs. 10 each were allotted at Rs. 99 per CCPS to Express Infra Financial Consultancy Pvt Ltd (Promoter group), aggregating Rs. 12.99 crore, towards conversion of an outstanding unsecured loan. Second, 7,50,000 fully convertible warrants were allotted at Rs. 99 per warrant to promoter Varun Gupta for cash, bringing in Rs. 7.42 crore of fresh capital. After full conversion, the company's fully diluted equity share capital will rise to Rs. 21.46 crore, comprising 2,14,67,506 equity shares of Rs. 10 each.
Both allotments are to the promoter group, signalling promoter commitment and bringing in fresh capital (Rs. 7.42 cr via warrants) while converting promoter-held unsecured debt into CCPS, which strengthens the balance sheet. Shareholders should note potential future dilution once the CCPS and warrants are converted into equity shares.