Allotment of 1,65,00,000 Equity Shares to Promoter Group on Conversion of Warrants

Management Committee approved allotment of 1,65,00,000 equity shares of face value ₹1 each at ₹8.60 each, on conversion of 1,65,00,000 fully convertible warrants to promoter group allottee Alka Agarwal.

Thu 8 Oct 2026

Equity Shares Allotted

1,65,00,000 equity shares of face value ₹1 each

Issue Price

₹8.60 each

Paid-up Equity Share Capital

₹30,41,58,100 divided into 30,41,58,100 equity shares

The Management Committee of the Board considered and approved an allotment of equity shares, arising from the conversion of warrants that were allotted earlier. Here is what the update states.

What was approved

• Allotment of 1,65,00,000 (One Crore Sixty-Five Lakh) equity shares of face value ₹ 1/- each.
• The allotment is pursuant to the conversion of 1,65,00,000 (One Crore Sixty-Five Lakh) fully convertible warrants.
• The warrants were allotted on October 05, 2026.
• The issue price is ₹ 8.60/- per share.
• The shares are being allotted by way of preferential allotment on a private placement basis.

Who received the shares

• Alka Agarwal, belonging to the Promoter Group category, was allotted 1,65,00,000 equity shares.

Effect on share capital

• The paid-up equity share capital of the company now stands at ₹ 30,41,58,100/- (Rupees Thirty Crore Forty-One Lakh Fifty-Eight Thousand One Hundred).
• This is divided into 30,41,58,100 (Thirty Crore Forty-One Lakh Fifty-Eight Thousand One Hundred) equity shares of face value ₹ 1/- each.

What this means in simple terms

• A fully convertible warrant gives its holder the right to receive equity shares later at a fixed price. When it is converted, the company issues new shares and the total number of equity shares in issue goes up.
• The newly issued shares carry the same face value of ₹ 1/- each as the existing shares.
• The allottee here belongs to the Promoter Group, so this allotment changes the promoter group's shareholding in the company.
• The shares are issued at ₹ 8.60/- each against a face value of ₹ 1/- each, so the issue is at a premium to face value.

Points a retail investor may track

• The change in the total number of equity shares in issue, from before this allotment to 30,41,58,100 shares now.
• The change in the promoter group's holding in the company following this allotment.

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