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 2,55,00,000 equity shares following the conversion of convertible equity share warrants. Originally, on 8 November 2024, the company had allotted 25,50,000 convertible equity share warrants at Rs. 55 per share (face value Rs. 10 plus premium Rs. 45). Since the face value was subsequently reduced to Rs. 1, the warrant conversion now results in 10 times the original number of shares. Seven allottees — all classified as Public — received shares, with Homeella Structures and Misthe Avenues each getting 65 lakh shares (the largest), followed by Rovotic Consulting and Arruttlas Supplies at 55 lakh each, and the remaining three allottees receiving 5 lakh each.
The conversion of warrants into a large block of equity shares will dilute existing shareholders. The fact that all allottees are 'Public' and relatively small entities (mostly private companies) suggests no immediate marquee investor signal, but the full conversion indicates completion of a previously announced preferential placement.