Websol Energy System Limited has informed the Exchange regarding Outcome of Board Meeting held on March 13, 2026.
WEBELSOLAR · price
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Websol Energy System's board approved the conversion of 12.1 lakh convertible warrants into 1.21 crore equity shares on March 13, 2026. The warrants were originally issued in September 2024 on a preferential basis to promoter group entity Websol Green Projects Private Limited at Rs.530 per warrant. Following the November 2025 stock split (from Rs.10 face value to Re.1), each warrant now converts into 10 equity shares of Re.1 each. The promoter paid the balance 75% of the issue price, amounting to Rs. 48.10 crore, with new shares allotted at Rs.53 per share (Rs.1 face value + Rs.52 premium). Post-allotment, the company's paid-up equity capital stands at Rs. 43.42 crore, comprising 43.42 crore shares of Re.1 each. The new shares will rank pari passu with existing equity shares.
This represents about 2.86% equity dilution on a small base. Since the conversion is by promoters themselves, it signals promoter confidence and commitment to the company. No fresh capital is raised beyond what was already committed — the company receives the balance 75% amount it was owed.