Intimation of Allotment of 26,32,800 (Twenty-Six Lakhs Thirty-Two Thousand and Eight Hundred Only) Warrants and 42,34,400 (Forty-Two Lakhs Thirty-Four Thousand and Four Hundred) Equity ....
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Subam Papers Ltd's board has allotted 26,32,800 convertible warrants and 42,34,400 equity shares at ₹152 per security (face value ₹10, premium ₹142) on a preferential basis, raising up to approximately ₹104.38 crore in total. Warrants worth ₹40.02 crore went to promoters and the promoter group, while equity shares worth ₹64.36 crore were allotted to 50 public investors. For warrants, only 25% (₹38 per warrant) has been paid upfront, with the balance due within 18 months on conversion. A notable participant is well-known investor Madhuri Madhusudan Kela, who subscribed to 19,28,000 equity shares worth ₹29.30 crore, giving her a 6.40% post-allotment stake. The issue price and allottees were approved following an EGM held in November-December 2025.
This preferential issue will dilute existing shareholders by about 22.8% on a fully converted basis, which could weigh on the stock in the short term due to potential supply pressure. However, the entry of a high-profile investor like Madhuri Kela may be seen positively as a vote of confidence in the company.