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 ....

Subam Papers' board, on February 4, 2026, approved the allotment of 26,32,800 fully convertible warrants and 42,34,400 equity shares on a preferential basis to 50 allottees at ₹152 per security (face value ₹10, premium ₹142). Promoters and promoter group subscribed to warrants worth about ₹40 crore, while public investors took equity shares worth about ₹64.36 crore, taking the total capital raise to roughly ₹104.38 crore. For warrants, only 25% (₹38 per warrant) is paid upfront, with the balance ₹114 due on conversion within 18 months. A standout public allottee is well-known investor Madhuri Madhusudan Kela, who subscribed for 19,28,000 equity shares worth about ₹29.30 crore, giving her a 6.40% post-allotment stake. Post full conversion, promoter and promoter group holding will come down from 55.49% to 51.58%.