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Titan Intech Ltd's board, at its meeting on March 12, 2026, approved the allotment of 1,30,00,000 (1.3 crore) equity shares to Pinnamaneni Estates Private Limited upon conversion of convertible equity share warrants. The investor is classified as a Promoter of the company. The allotment was made via preferential issue route, and the full conversion amount has been received. The original warrants were allotted at Rs. 55 per share (face value Rs. 10 + premium Rs. 45). The higher share count (1.3 crore vs. the original 13 lakh warrants) is due to a reduction in face value to Rs. 1 per share.
This is a promoter-led warrant conversion that increases the equity base and tightens promoter holding, but adds no new capital since the warrant money was already received earlier. Shareholders may see mild dilution on share count, though the cash infusion happened at the time of original warrant issuance.