Board meeting Outcome
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Titan Intech's board approved the allotment of 2 crore equity shares to four entities upon conversion of convertible equity share warrants. The allottees include Trullo Developers (45 lakh shares), Adhigam Software (60 lakh shares), Lineesh Township (40 lakh shares), and Metoza Innovate (55 lakh shares). The warrants were originally issued via preferential allotment on November 18, 2024, at Rs. 55 per share (face value Rs. 10 plus premium Rs. 45). The company subsequently reduced its face value from Rs. 10 to Rs. 1, and is now allotting the shares accordingly. This represents a significant capital expansion through warrant conversion.
This will result in substantial dilution for existing shareholders as 2 crore new equity shares are being issued. The conversion of warrants to equity increases the company's paid-up capital considerably.