Conversion of Convertible Warrant into Equity Shares
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On March 5, 2026, the Board of Swadeshi Industries & Leasing Ltd approved the conversion of 1,23,10,000 (1.23 crore) convertible warrants into an equal number of equity shares of face value Rs. 10 each. The conversion was done at a 1:1 ratio at a price of Rs. 10 per share, bringing in a total of Rs. 12.31 crore to the company. The shares were allotted to 48 allottees including promoters and non-promoters, and all warrants have been fully converted with none pending. This was done as a preferential allotment under SEBI ICDR Regulations and the Companies Act, 2013.
This conversion increases the equity share base of the company by 1.23 crore shares, which may lead to dilution of existing shareholders' holdings. Since the warrants are being converted at face value with no premium, the capital infusion is modest and the move signals completion of a previously planned fundraising step rather than fresh capital raise.