Apportionment of amounts received from Warrant Holders belonging to Promoter and Non-Promoter Category against warrants allotted in the meeting held on May 11, 2024, and Allotment of 1,40,62,754 ....
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Telogica Ltd's board approved the conversion of 1,40,62,754 convertible warrants into equity shares at Rs. 8 per share (Rs. 5 face value + Rs. 3 premium), allotted on a preferential basis in May 2024. The company received Rs. 11.25 crores from 7 allottees (1 promoter and 6 non-promoters) on October 29, 2025, as balance consideration against these warrants. Consequently, the paid-up equity capital will rise from Rs. 16.89 crores (3.37 crore shares) to Rs. 23.92 crores (4.78 crore shares), a ~42% increase in share count. Post-allotment, promoter Mandava Srinivasa Rao's stake will be 19.00%, while non-promoter Hari Krishna Reddy Kallam will hold 13.21%.
This is a dilution event for existing shareholders as over 1.4 crore new shares are being issued, increasing the total share count by approximately 42%. The fresh capital of Rs. 11.25 crores strengthens the company's equity base, though no specific deployment purpose is mentioned. The new shares will be under lock-in as per SEBI ICDR regulations.