The Board of Directors of the Company, at its meeting held today, inter alia, approved the issue of up to 10,00,000 (Ten Lakh) Fully Convertible Warrants on a preferential basis at a price ....
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Taylormade Renewables' board, at its meeting on February 28, 2026, approved issuing up to 10 lakh fully convertible warrants at Rs 123 each, raising up to Rs 12.30 crore on a preferential basis. The warrants, each convertible into one equity share of Rs 10 face value, will be allotted to two individuals — Sukhdev Santramdas Punjabi (5 lakh) and Sangitaben Sukhdev Punjabi (5 lakh) — who currently hold no shares in the company. Investors will pay 25% upfront and the balance 75% on conversion, with an 18-month window to exercise. The funds will go toward the company's patented sugar manufacturing technology — covering pilot plants, field-scale demos, R&D, and marketing — marking Phase I of a planned multi-stage fundraise. An EGM is scheduled for March 30, 2026 (cut-off date March 20) to seek shareholder approval.
If all warrants are converted, the two investors would each hold 3.73% of the company (total ~7.46% dilution), a modest expansion of the equity base. Since only 25% is paid upfront, actual cash dilution is limited initially, but full conversion depends on the warrant holders' willingness to invest further. Shareholders should watch the EGM outcome and any updates on the sugar tech commercialization, as this represents a significant strategic pivot for the company.