Board Allots 78,11,100 Convertible Warrants at Rs. 12 Each in Third Tranche to Two Public Investors
Board has allotted 78,11,100 fully convertible equity warrants on a preferential basis — the third tranche.
- Warrants Allotted
- 78,11,100 fully convertible equity warrants
- Issue Price
- Rs. 12.00/- per warrant (face value Rs. 10/- plus premium of Rs. 2.00/-)
- Allottee 1
- Vishal Ishvarbhai Patel: 47,34,000 warrants
- Allottee 2
- Patel Vinodbhai Ramabhai: 30,77,100 warrants
- Payment Terms
- 25% upfront; 75% payable on conversion within 18 months
What happened
The Board of Aurique Limited (formerly PAE Limited) met on September 28, 2026 and allotted 78,11,100 fully convertible equity warrants on a preferential basis, described as the third tranche. This follows the special resolution passed by members at the EGM on September 03, 2026 and BSE in-principle approval dated September 22, 2026.
Pricing
- Issue price: Rs. 12.00/- per warrant
- Includes a premium of Rs. 2.00/- per warrant
- Each warrant converts into one fully paid-up equity share of face value Rs. 10/-
Who got them
- Vishal Ishvarbhai Patel (Public): 47,34,000 warrants
- Patel Vinodbhai Ramabhai (Public): 30,77,100 warrants
Both allottees had no pre-issue shareholding shown. On a post-issue basis the company shows 18% and 11.7% respectively, computed assuming full allotment of 2,50,00,000 warrants and their conversion into equity shares.
Payment structure
At least 25% of the warrant issue price was payable upfront with the application and has been received from the proposed allottees. The balance 75% becomes payable when the allottees choose to convert. Conversion can be exercised within a maximum period of 18 months from the date of allotment.
What it means for existing shareholders
Because only warrants have been allotted, there is currently no change in the paid-up share capital. If and when the warrants are converted, new equity shares will be created, which increases the total share count and dilutes the proportionate holding of existing shareholders. The number of shares issued on exercise is subject to adjustments permitted under applicable rules.
Meeting detail
The Board meeting commenced at 04.30 P.M. and concluded at 04.44 P.M.
Also from Aurique
Board allots 73,50,700 convertible warrants at Rs. 12 each in second tranche of preferential issue
25 Sep 2026
More numbers
- Warrants allotted78,11,100
- Issue price per warrantRs. 12.00/-
- Premium per warrantRs. 2.00/-
- Face value per equity shareRs. 10/-
- Warrants to Vishal Ishvarbhai Patel47,34,000
- Warrants to Patel Vinodbhai Ramabhai30,77,100
- Upfront consideration received25%
- Balance payable on conversion75%
- Maximum conversion period18 months
- Post-issue holding - Vishal Ishvarbhai Patel18%
- Post-issue holding - Patel Vinodbhai Ramabhai11.7%
- Warrants assumed in post-issue computation2,50,00,000
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