Issue of equity shares and convertible warrants by way of preferential issue.
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Starlineps Enterprises got shareholder approval at its EGM on 24 February 2026 to raise funds through a preferential issue. The plan covers up to 7 crore equity shares at Rs. 6 per share (face value Re. 1, premium Rs. 5) to non-promoters, worth Rs. 42 crore. Additionally, up to 48 crore convertible warrants will be issued at Rs. 6 each to promoters and non-promoters, potentially raising another Rs. 288 crore if converted. The warrants have a 18-month tenor and are exercisable into equity shares in one or more tranches. A total of 199 investors are participating, including promoters Dhirajbhai Vaghjibhai Koradiya and Varshaben D Koradiya via warrants. Post-issue shareholding will be 39.12% promoter and 60.88% non-promoter.
This is a significant equity dilution event — if all warrants are converted, total shares could grow by roughly 55 crore, potentially diluting existing shareholders considerably. Proceeds may strengthen the company's capital base, but the large number of small allotments and substantial dilution warrant close attention before investing.