Outcome of the Board Meeting held on September 23, 2025 and Intimation of allotment of Convertible Warrants on Preferential Basis
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Taylormade Renewables' board, at its meeting on September 23, 2025, approved the allotment of 2,50,000 convertible warrants to Neera D Gor (promoter category) at Rs. 332.86 per warrant, carrying a premium of Rs. 322.86 over the Rs. 10 face value. The company has already received 25% of the issue price (Rs. 2.08 crore) upfront, with the balance payable on conversion. Separately, a proposed preferential issue of 5,00,000 warrants to non-promoters Sunil Behal and Nisha Behal at Rs. 272 each has lapsed because the allottees failed to pay the subscription money within the stipulated deadline, so no warrants were allotted under that approval.
Promoter-led capital infusion strengthens the company's equity base and signals insider confidence, though eventual dilution is deferred until the warrants are converted. The lapse of the non-promoter issue removes what could have been an external validation of the Rs. 272 valuation level.