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Allotment of 2,66,666 equity shares on conversion of convertible warrants

Board approved allotment of 2,66,666 fully paid-up equity shares of Rs. 10 each on conversion of an equal number of convertible warrants held by six non-promoter holders, after receipt of the balance consideration.

By ScoutQuest · Wed 21 Oct 2026, 5:51 PM IST · 2 min read

Equity shares allotted on warrant conversion

2,66,666 fully paid-up equity shares of Rs. 10 each

Issue price per share

Rs. 125 per share

Post-allotment paid-up share capital

2,46,78,104 shares

What the company informed the exchanges

The Board of Directors, by a circular resolution passed on 21 October 2026, considered and approved the allotment of an aggregate of 2,66,666 fully paid-up equity shares of face value of Rs. 10 each, upon conversion of an equal number of convertible warrants. The allottees are warrant holders belonging to the Non-Promoter Group, listed in Table A of the update. Six investors are named as allottees. The newly issued shares rank pari-passu, in all respects, with the existing equity shares of the company.

The terms of the conversion

• Each warrant carries the right to subscribe to one equity share of the company.
• The issue price is Rs. 125 per equity share, made up of face value of Rs. 10 and a premium of Rs. 115 per share.
• The company had earlier allotted 79,72,000 warrants at Rs. 125 each, against receipt of a minimum upfront subscription of 25% of the issue price per warrant.
• The present allotment follows receipt of the balance consideration payable by the respective warrant holders on the warrants being converted.

How the share capital changes

The update sets out the paid-up equity share capital before and after this allotment.

• Existing paid-up equity share capital: 2,44,11,438 equity shares of Rs. 10 each, amounting to Rs. 24,41,14,380.
• Post-allotment paid-up equity share capital: 2,46,78,104 equity shares of Rs. 10 each, amounting to Rs. 24,67,81,040.

So the total number of equity shares in issue rises by 2,66,666 shares, with a matching increase in the paid-up capital amount.

The allotment list

The allotment is spread across six Non-Promoter holders. For each name, the update shows how many warrants were allotted, how many were applied for conversion, and how many remain pending for conversion. Not every warrant held by these holders has been converted in this round; the table shows a balance still pending against some names.

What this means for a retail investor

• This is a conversion of warrants issued earlier, not a brand new fundraise at a fresh price. The price of Rs. 125 per share was fixed when the warrants were allotted.
• The company has received the balance money due on the converted warrants. A warrant holder choosing to pay the remaining amount and take shares is a completed step of the earlier preferential issue.
• Because new shares are being issued, the total number of shares in the company goes up. That means existing shareholders hold a marginally smaller slice of the company than before, which is the usual effect of any fresh issue of shares.
• The new shares carry the same rights as existing shares.

The company has stated that it will apply to the stock exchanges for listing and trading approval of the newly issued and allotted equity shares in due course. Until that approval comes, these shares are not tradable on the exchanges.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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