Tirupati Forge Limited has informed regarding Disclosure of material issue for alloment of Equity Shares upon conversion of warrants
TIRUPATIFL · price
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Tirupati Forge Limited's board, at its meeting on January 6, 2026, approved the allotment of 12,50,000 equity shares (face value Rs.2) at a premium of Rs.30 per share (total issue price Rs.32) to promoter Chetna Mukeshbhai Thumar, pursuant to conversion of 12,50,000 convertible warrants. The warrant holder paid the balance 75% consideration of Rs.3 crore towards this conversion. These warrants were part of the 1,17,60,000 convertible warrants originally issued on a preferential basis on January 16, 2025, at Rs.32 per warrant. So far, 72,50,000 warrants have been converted into equity shares, while 45,10,000 warrants remain pending conversion.
This is a routine warrant-to-equity conversion from a pre-existing preferential issue, resulting in a minor equity dilution. Post-conversion, promoter Chetna Thumar's stake increases from 13.36% to 14.22%, indicating continued promoter confidence. The event is largely priced in and unlikely to cause significant stock movement.