Allotment of 1,23,50,000 Additional Equity Shares (on account of conversion of Compulsorily Convertible Debentures ('CCDs') into equity shares.
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ZR2 Bioenergy Ltd allotted 1.23 crore additional equity shares to ZR2 Group Holdings Limited upon conversion of an equal number of Compulsorily Convertible Debentures (CCDs). The shares were allotted at Rs. 65 each (Rs. 1 face value plus Rs. 64 premium), bringing the total value to roughly Rs. 80.28 crore. These CCDs were originally issued through a preferential allotment. As a result, ZR2 Group Holdings' stake in the company jumped from 61% (21.77 lakh shares) to 91.26% (1.45 crore shares). The new shares will rank equally with existing equity in all respects, including dividends and voting rights. The company will now apply to BSE for listing and trading approval of these additional shares. The board meeting ran from 10:00 a.m. to 6:00 p.m. on February 14, 2026.
Existing minority shareholders face meaningful dilution as the promoter group's holding surged from 61% to over 91%, sharply reducing public float and trading liquidity. Since this was a pre-scheduled CCD conversion rather than fresh fundraising, the immediate cash impact is neutral, but governance and minority influence concerns may weigh on sentiment.