Revised outcome
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Awaiting price reaction for this filing.
The company filed a revised outcome to correct a typographical error in its earlier disclosure about the conversion of convertible warrants into equity shares. The total number of shares was revised downward from 38,63,000 to 37,97,000 (a reduction of 66,000 shares), and two allottees (Amit Kumar Agarwal HUF and Disha Shiv Baser) were removed from the list. At its May 27, 2025 board meeting, the company approved the conversion of 37,97,000 convertible warrants into equity shares at Rs. 106 per share (face value Rs. 10) upon receipt of full subscription money. All 128 allottees are classified as Non-Promoters, with the largest single allottee being Heena Kirit Desai at 4,75,000 shares.
The conversion will result in the issuance of 37,97,000 new equity shares, leading to dilution for existing shareholders. The company will receive the full subscription amount from warrant holders, strengthening its capital base. The correction is administrative in nature and does not change the substantive nature of the original approval.