With reference to the subject cited, this is to inform the Exchange that the meeting of the Board of Directors of Western Ministil Limited held on Monday, February 16, 2026 at the registered ....
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The board of Western Ministil Limited, at its meeting held on February 16, 2026, approved the allotment of 40 lakh equity shares of face value ₹10 each at ₹10 per share (i.e., at par) and 63,74,252 convertible warrants at ₹10 per warrant on a preferential basis. The allotments were made pursuant to a special resolution passed by shareholders at the EGM on December 24, 2025, and the in-principle approval received from BSE on February 02, 2026. A total of 12 allottees received shares/warrants, with the largest share going to promoter Kalpesh Naginbhai Patel (30 lakh shares and 30 lakh warrants), followed by Vandana Patel (5 lakh shares, 15 lakh warrants), and the remaining 10 allottees receiving 50,000 shares each. The warrants carry a conversion option into equity shares at a later date.
The preferential allotment at par (₹10) will lead to equity dilution for existing shareholders. Since the issue price equals face value, promoters and select allottees are subscribing at a substantial discount to any prevailing market price, which is dilutive. Shareholders should watch for any future conversion of these 63.7 lakh warrants, which could add further dilution pressure.