Board allots 73,50,700 convertible warrants at Rs. 12 each in second tranche of preferential issue
The Board has allotted 73,50,700 Fully Convertible Equity Warrants to 2 allottees on a preferential basis (second tranche).
- Warrants Allotted
- 73,50,700 Fully Convertible Equity Warrants
- Issue Price per Warrant
- Rs. 12.00/- (premium Rs. 2.00/-, face value Rs. 10/-)
- Promoter Allotment
- Rinkal J Patel: 42,21,000 warrants
- Public Allotment
- Bhanuben Vinodbhai Patel: 31,29,700 warrants
- Conversion Period
- Maximum 18 months from allotment; each warrant converts to 1 equity share
What happened
The Board of Directors, meeting on September 25, 2026, allotted 73,50,700 Fully Convertible Equity Warrants on a preferential basis to 2 allottees. This is the second tranche of the preferential issue approved by shareholders at the EGM held on September 03, 2026, with BSE in-principle approval granted on September 22, 2026.
Pricing
- Issue price: Rs. 12.00/- per warrant
- This includes a premium of Rs. 2.00/- per warrant over the face value of Rs. 10/- per equity share
Who received the warrants
- Rinkal J Patel, Promoter & Promoter Group: 42,21,000 warrants
- Bhanuben Vinodbhai Patel, Public: 31,29,700 warrants
How warrants work here
Each warrant converts into one fully paid-up equity share of face value Rs. 10/- each, at the option of the allottee, within a maximum period of 18 months from the date of allotment. At least 25% of the issue price was payable upfront with the application, and the remaining 75% becomes payable when the holder chooses to convert. The company confirms it has received the 25% upfront amount.
Effect on capital
Because only warrants have been allotted so far, there is currently no change in the paid-up share capital. Shares are created only if and when the warrants are converted.
On the indicative post-issue basis shown by the company, Bhanuben Vinodbhai Patel would hold 11.9% and Rinkal J Patel 17%. The company notes this pattern is computed assuming full allotment of 2,50,00,000 warrants and their conversion into equity shares.
How investors may read it
Preferential warrant allotments bring money into the company in stages and signal that the promoter group and a named public investor are committing funds at Rs. 12.00/- per warrant. The flip side is potential dilution for existing shareholders if the warrants are converted into equity within the 18-month window.
Also from Aurique
Board Allots 78,11,100 Convertible Warrants at Rs. 12 Each in Third Tranche to Two Public Investors
28 Sep 2026
More numbers
- Warrants allotted73,50,700
- Issue price per warrantRs. 12.00/- per warrant
- Premium per warrantRs. 2.00/- per warrant
- Face value per equity shareRs. 10/-
- Warrants to Rinkal J Patel (Promoter)42,21,000
- Warrants to Bhanuben Vinodbhai Patel (Public)31,29,700
- Number of allottees2 allottees
- Upfront payment share25%
- Balance payable on conversion75%
- Conversion window18 months
- Indicative post-issue holding - Bhanuben Vinodbhai Patel11.9%
- Indicative post-issue holding - Rinkal J Patel17%
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